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Members of the Investment and Financial Services Association (IFSA) have formally agreed to a name change following a general meeting in Sydney yesterday.
Members voted to change the organisation’s name to the Financial Services Council and adopted an expanded mandate to more actively engage in economic policy in Australia. The council represents the retail and wholesale funds management, superannuation and life insurance industries, worth $1.4 trillion.
Chairman David Deverall said the wider focus was critical and added that the financial services sector has an obligation to speak on broader economic policy issues that affect the nation.
Chief executive John Brogden said the council would work with government, regulators and other stakeholders to ensure Australia has the best investment, regulatory and business environment.
“We will continue to work on the issues that enhance the domestic investment environment and assist in building the retirement savings, wealth and, ultimately, the lifestyles of all Australians,” Brogden added.
