FPA puts views to Canberra


Jo-Anne Bloch
Just months out from the Federal Election, the Financial Planning Association (FPA) has been making its views clear to the major parties.
The FPA has confirmed that a senior representative group met with key figures within both the Government and the Opposition last week to put the industry’s position and to build on the ongoing contact between the sector and the Government.
The group met with the Assistant Treasurer, Peter Dutton, the Parliamentary Secretary to the Treasurer, Chris Pearce, the Shadow Assistant Treasurer, Chris Bowen, and a representative from the Shadow Minister for Financial Services, Nick Sherry.
The chief executive of the FPA, Jo-Anne Bloch, said the group discussed a range of issues including the costs and time required to produce Statements of Advice, the role of the Financial Industry Complaints Service and the need for professional indemnity insurance, the tax deductibility of upfront fees for advice, the Australian Securities and Investments Commission and its policy, enforcement and interaction processes, perceptions of financial planners and the need to revise outdated views.
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.