‘Look beyond the noise’ politicians urged

financial-planning/fpa-chief-executive/financial-planning-association/financial-services-industry/financial-planners/parliamentary-joint-committee/FPA/chief-executive/

15 October 2014
| By Nicholas |
image
image
expand image

Politicians tasked with raising education and professional standards in the financial advice sector are being urged  by the Financial Planning Association of Australia (FPA) to “look beyond the noise” of vested interests.

Speaking at the Parliamentary Joint Committee (PJC) on Corporations and Financial Services Inquiry into proposals to lift the professional, ethical and education standards in the financial services industry, hearing yesterday, FPA chief executive, Mark Rantall, said the profession needed to be at the centre of the push to raise standards.

“As the leading professional body for financial planners in Australia we are asking for this committee to look beyond the noise and vested interest from those whom do not speak for advice or individual professional financial planning practitioners,” he said.

“The solution that we all seek must rest with the financial planning professional community, of which the FPA represents over 50 per cent.”

Rantall reiterated the FPA’s call for an independent body to be “gifted” to the profession to become the “gatekeeper of minimum education standards and requirements” for those providing personal financial advice to consumers, as outlined in the association’s submission to the PJC.

“Now is not the time to reinvent the wheel,” he said.

“We already have a reputable body in Financial Planning Education Council (FPEC) that can uphold the standards set by the profession.

“Our proposed framework would allow FPEC to do just that for the industry, without being tied to any one association or group.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

1 month 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months ago

Entireti has unveiled the new name for the AMP financial advice businesses that it acquired last year....

4 weeks ago

A Sydney financial adviser has been permanently banned from providing any financial services, with the regulator deriding his “lack of integrity, trustworthiness and prof...

2 weeks 5 days ago

Minister for Financial Services, Stephen Jones, has provided further information about the second tranche of the Delivering Better Financial Outcomes (DBFO) reforms....

1 week 4 days ago

TOP PERFORMING FUNDS