Financial services factions urged to unite
SPAA patron, Sir Anthony Mason calls for an end to denigration and a uniting of the various sections of the financial services industry.
The Australian financial services industry need to put aside its differences and present a united policy front to Government, according to the Patron of the Self Managed Superannuation Funds Associaition, Sir Anthony Mason.
Mason, a former High Court judge, opened the SPAA annual conference in Melbourne, that there were substantial advantages for the industry in presenting a united front and that much damage had been done by various sectors of the industry denigrating each other.
He said too much damage had been done be some parts of the industry pursuing their sectional interests at the expense of others.
As well, Mason said that any further changes to the legislative and regulatory regime should be finely focused on removing excesses and inequities and there was no doubting that excesses and inequities continued to exist.
The SPAA patron also reinforced the need for the planning industry to embrace higher educational qualifications.
He said that only when planners embraced degree-based qualifications could they call themselves a profession.
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
