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
The director of Ascent Investment and Coaching, Michael Dunjey, has been charged with 33 criminal offences.
Adviser Ratings’ latest financial landscape report finds there is a demographic of advice practices achieving an average revenue of $5 million, with only 3 per cent of practices overall seeing a revenue decline.
The FAAA is calling for regulators to take a partnership approach with financial advisers regarding incoming legislation, rather than treating the industry as “guinea pigs”.
There have been strong numbers of returning advisers this year so far, according to Wealth Data, already surpassing the same period for 2024.
