Risk experts welcome RC report


The Actuaries Institute has joined the chorus welcoming the Royal Commission’s final report, saying that it looks forward to assisting the Financial Service Reform Implementation Committee in rolling out the recommendations.
“The Institute fully supports the cultural change that has been advocated by the Royal Commission and demanded by the public,” Institute chief executive, Elayne Grace, said.
“The report examines some enormously complex issues and the Institute will take measured steps to assess the recommendations and determine how the actuarial profession can help industry achieve better outcomes for consumers.”
Grace believed that the organisation and its members would bring expertise in managing risk, including cultural and non-financial risk, to the implementation.
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.