Financial advisers need to get 'back to business'
Financial advisers must better communicate the message of Australia's strong financials and get back to the business of providing quality education and understanding to clients.
Association of Financial Advisers (AFA) chief executive Richard Klipin said advisers are the key to restoring consumer confidence in Australia amid both market and political uncertainty.
Referring to AMP.NATSEM's report 'Prices these days!', he said the average Australian family earns $11,000 more per annum than they did in 1984, and those earning income from investments have experienced an average growth of $547 per week above their living costs in the same period.
The increase to compulsory contributions in superannuation from 9 to 12 per cent is sure to better the standard of living of future generations of retirees, he added.
"Clichéd or not, Australia is still the Lucky Country. We are one of the few western nations experiencing economic growth; we have high levels of employment, a good quality of life and high wages," Klipin said.
"As client-first educators, advisers can lead discussions which focus on the positives and what's right with our world."
Despite short-term concern around the implementation Future of Financial Advice regulations, AFA president Brad Fox said people were still working in the hope of retiring and it was now time for advisers to get "back to business".
"It's time to make sure you are seeing your clients and referral partners. People are screaming out for advice and leadership," he said.
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