FPA outlines election choices facing planners
Just two days out from the Federal Election, the Financial Planning Association (FPA) has issued a document to its members comparing the policies of the various political parties, including on the key question of a Royal Commission into the banking and financial services industry.
The document makes no recommendations to FPA members but makes clear that the Coalition Government is the only political entity to have formally stated its opposition to a Royal Commission with the Australian Labor Party and the Greens leading the way among the parties most firmly in favour.
The only other political entity indicating opposition to a Royal Commission appears to be the Liberal Democratic Party with the FPA noting that "David Leyonhjelm has questioned the value of a Royal Commission on the basis that it is unlikely to uncover anything not already known".
The comparison document also makes clear a similar clear difference in the policy position of the Government and Labor on negative gearing, but the picture with respect to superannuation policy is much more complex.
The policy comparison document points to the superannuation changes announced by the Government in the Federal Budget, the approach which has been outlined by the Australian Labor Party and the progressive tax rate on contributions proposed by the Greens. It then points to the approach of the Nick Xenophon team including the immediate lifting of the superannuation guarantee and annual general meetings for superannuation funds.
Recommended for you
Sharing his reasoning in joining the FSC board, WT Financial chief executive, Keith Cullen, believes “product and advice cannot be separated” from each other in the current environment.
The Emerge Foundation, a charity run by financial advisers and fund managers, has announced a scholarship program to help veterans transition into tertiary education.
In an open letter, Sequoia chief executive Garry Crole has hit out against shareholders “with a personal axe to grind” as he fights for his job ahead of an EGM.
The JAWG has announced it is in talks with Treasury around five “core principles” to strengthen the education standards for new entrants to the financial advice space.