A number of the items included in a document purported to have been negotiated between the Financial Planning Association (FPA) and the Industry Super Network have been acknowledged by the Minister for Financial Services, Bill Shorten, as likely to be injected into legislation.
In wrapping up debate around the Future of Financial Advice bills, Shorten acknowledged the possibility of class order relief from opt-in after four years for planners who met particular professional standards, and legislation to restrict use of the term ‘financial planner’.
The Minister paid particular tribute to the FPA for its input to the FOFA debate.
