The advice industry needs to take a proactive approach to move ahead of regulation, Financial Planning Association of Australia (FPA) chief executive, Mark Rantall believes.
Speaking at the Money Management Life/Risk Remuneration Inside the New Framework, breakfast this morning, Rantall said all advice businesses across the country needed to embrace cultural change to promote professional behaviour.
“Advisers need to get ahead of the regulation and legislation,” Rantall said.
He told delegates that advice groups of all sizes needed to focus and support cultural changes promoting ethical behaviour and ongoing education.
Rantall also backed calls for the separation of advise and product, making advice the product.
