This podcast brings you an audio version of our recent webcast hosted by ifa editor Maja Garaca Djurdjevic who was joined by QAR lead Michelle Levy and the CEO of the Financial Advice Association Australia, Sarah Abood.
Ms Levy and Ms Abood share their thoughts on the government’s QAR response and dissect certain recommendations, including the expansion of the super funds’ advisory powers.
At times, Ms Levy and Ms Abood disagree on areas of the review, including the name that should be given to superannuation employees providing information/advice to their members.
Ms Levy discusses why she believes the absence of good advice exposes funds to conflicts of interest, while Ms Abood shares why defining the good advice duty is crucial.
Moreover, the pair discuss the future of statements of advice, and Ms Abood provides an update on the progress of the consultation with government.
Levy has no conviction or clue about actual implementation, less ethereal waffle, more specific actionable steps are desperately needed, [b]implemented bloody quickly[/b] – otherwise the whole profession is stuffed. Sarah was realistic and I hope government listens, but more importantly [b][/b]ACTS