New planner group emerges
|
|
A new grouping has emerged in the financial planning industry — the Accountant Financial Advisers Coalition (AFAC).
At the same time as debate continues about the role of the Financial Planning Association (FPA), the new group has been formed to represent the interests of accountants who provide financial advice.
Importantly, the group includes representatives from Count Financial, Professional Investment Services, WHK, Securitor and Lonsdale.
The expressed intention of the group is “to ensure alignment of any proposed professional standards with the emerging regulatory framework determined by Government, especially the Future of Financial Advice changes and any regulatory changes arising from the Cooper Review”.
The announcement of the formation of the group was made by Count Financial chief executive Andrew Gale, who will chair the group.
Gale said the intention of the AFAC was to ensure the requirements of its respective members were being taken into account regarding any proposed changes.
AUTHOR
Mike Taylor
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.
