Chartered Accountants confirm FASEA approach
Chartered Accountants Australia and New Zealand has admitted advocating to the Financial Adviser Standards and Ethics Authority (FASEA) for the educational and ethical standards required of Chartered Accountants to be recognised.
The CA ANZ made clear its position in a pre-Budget submission which has also argued that the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry represents an incredible opportunity for reform.
On the question of FASEA the submission said that Government and regulators need to foster a new sense of professionalism in the financial planning sector on the wake of the revelation at the Royal Commission.
“This stance is reflected in our recent dealings with the FASEA where CA ANZ has advocated for the educational and ethical standards required of Chartered Accountants to be recognised,” the submission said.
However, it also suggests that the final report “deserves careful scrutiny and a well-considered response, not a political bunfight”.
“The Federal Budget provides the ideal platform for such a response to be unveiled by the Treasurer,” the CA ANZ submission said.
Recommended for you
With regional and rural suburbs exhibiting high spare capacity to invest, Money Management speaks to three regional advisers on the opportunities beyond the major cities and the importance of a strong network.
Platform consolidation is expected to accelerate among financial advisers this year, as software company Finura pinpoints which two platforms are set to be the winners, thanks to this trend.
The software provider has made several appointments in its APAC wealth propositions team, with a focus on driving growth across digital advice, Xplan and strategic partnerships.
The platform has announced it plans to close its Xplore managed discretionary account service in 2026 which holds $2 billion in funds under administration.
