AFA awaits Government ministry make-up
The Association of Financial Advisers (AFA) has noted the return of the Federal Coalition to government and said it would wait until the Government announced its ministry before heading to Canberra for policy discussion.
Chief executive, Brad Fox, said: "There are a number of new politicians with which the AFA will now engage alongside continuing our advocacy with Labor, the Greens, minor parties, and the independents".
Fox also urged all side of politics to prioritise the nation's needs in light of the close election results.
"Australians are looking for a clear vision of the future, well-considered policy and strong leadership. The constituents of the financial advice sector share this view."
The financial advice profession was evolving rapidly with technological change and the adoption of new standards, Fox said.
"We are a strong supporter of education and professionalism standards for financial advisers," he said.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.