Having published the final Quality of Advice Review (QAR) report on Wednesday morning, Financial Services Minister Stephen Jones issued a short statement detailing the government’s next steps.
“Australians need access to quality, affordable financial advice to plan for their future,” Mr Jones said.
“Today, the Albanese government is releasing the Quality of Advice Review, an extensive report containing options to get the industry working better for all Australians,” he continued.
“We thank Michelle Levy for her work in leading this review and producing a detailed and valuable contribution,” the Minister added.
Mr Jones also invited “anyone with an interest in financial advice” to read the report and make their views known.
“The government will now consult widely on the review’s recommendations,” he said.
“We want to see an industry with strong professional standards that’s accessible for more Australians and look forward to hearing views on achieving that goal.”
Keen to know what “interests duty” applies to Mr Jones now, will he be “maintaining complete records” and who will keep him accountable to make a “good” decision?
Legislation needs to be written asap, the interim report didn’t really different to the final and submissions for feedback were widely provided. Get it done!
“We want to see an industry with strong professional standards that’s accessible for more Australians and look forward to hearing views on achieving that goal.”
So, do we call him or what? Is this a new review or is he just taking calls from Industry Super?
Hasn’t everyone “who has an interest in financial advice” made their views known to Michelle Levy’s review?
Now the Govt can receive input on what the Industry Funds really want.
Exactly! Jones just kicking this down the road. He doesn’t want to make call. Out of depth.