Planners should focus on bigger picture: IPA
The Institute of Public Accountants has spoken out in favour of the Government’s Future of Financial Advice (FOFA) reforms, arguing that the financial planning industry should focus on the bigger picture.
Chief executive Andrew Conway (pictured) said recent comments by stakeholders about the FOFA reforms package were putting self-interest ahead of public interest.
“We believe it is in the public interest to have a scaled licensing regime for financial advice, and we are pleased the Government has acknowledged the important role appropriately qualified accountants can play in the provision of financial advice,” Conway said.
“We simply do not accept the position that the transitional arrangements in FOFA are problematic,” he said.
Conway’s comments are in line with the fact that many of the proposed FOFA reforms will benefit the accounting profession.
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