As advisers exit the industry, the number of Certified Financial Planners in Australia has declined by 4% but figures globally have now passed 200,000.
The Association of Financial Advisers (AFA) is opposing the Government’s ‘clean record’ requirement under its proposed experience pathway as there would be too many unknowns over how it could be handled.
After surveying members, the AFA submitted a counter-proposal to Treasury’s Education Pathways proposal that splits advisers based on the length of their stay in the industry.
The Association of Financial Advisers is calling on the Government to implement the association’s proposed changes to the “experience pathway” before the next election.
An industry group says “one of the greatest challenges” confronting the advice industry must be looked at in the upcoming Quality of Advice Review (QAR).