ASIC, FOS get behind Financial Planning Week
Following calls by the Financial Planning Association (FPA) for the industry to work together in raising awareness around the benefits of financial advice, both the Australian Securities and Investments Commission (ASIC) and the Financial Ombudsman Service (FOS) have given their support to Financial Planning Week.
ASIC chairman Peter Kell said the workshops and activities on offer to the public were important and the regulator was encouraging all Australians to get behind them.
"ASIC strongly believes in helping Australians to better manage their money and create a brighter financial future," Kell said.
Alison Maynard, FOS investment ombudsman, added that the public needed education on how to find good quality advice.
FPA CEO Mark Rantall said: "The aim of the FPA community is to increase the number of Australians accessing qualified financial advice and reaping the benefits it brings".
The announcement from ASIC and FOS comes after Federal Treasurer Chris Bowen and Shadow Assistant Treasurer Mathias Cormann backed the FPA's effort to educate Australians and lift the standard of professional financial advice.
"We appreciate the support from the industry and government for Financial Planning Week, as well as the ongoing support we receive for all FPA initiatives," Rantall said.
Recommended for you
Money Management examines the share price of financial advice licensees over one year to 31 March, with M&A actions in the final quarter having a positive effect for two licensees.
A $3.5 million settlement for victims of Melissa Caddick has been approved by the Federal Court following an initial agreement last December.
The Reserve Bank of Australia has delivered its first rate decision since the introduction of a new board structure last month.
Digital advice provider Otivo has launched an interactive tool, powered by artificial intelligence and Otivo’s own advice engine, to help answer client questions.
