Financial Services Council chief executive, Blake Briggs, has shed a light on the need for industry body consolidation and how meaningful engagement between groups has brought the advice debate to where it is today.
Minister for financial services, Stephen Jones, has blamed the federal budget for the delays to the Quality of Advice Review but said he is expectant of a position by June.
The Quality of Advice Review needs to be enacted “urgently” to allow the industry to rebuild, according to HUB24’s chief executive, Andrew Alcock, as the firm acquires client portal myprosperity.
The newly-combined Financial Advisers Association will use next week’s roadshow to encourage existing members to renew membership. The FAAA will make stronger advocacy its top priority after listening to feedback from members.
In an open letter to the Minister, the Joint Association Working Group has sought to maintain consensus support of the Quality of Advice Review proposals but has accepted the Minister’s view that changes are best made in stages.