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
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
