Advice needs to get ahead of regulation
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.
AUTHOR
Nicholas O'Donoghue
Recommended for you
With the final tally for FY25 now confirmed, how many advisers left during the financial year and how does it compare to the previous year?
HUB24 has appointed Matt Willis from Vanguard as an executive general manager of platform growth to strengthen the platform’s relationships with industry stakeholders.
Investment manager Drummond Capital Partners has announced a raft of adviser-focused updates, including a practice growth division, relaunched manager research capabilities, and a passive model portfolio suite.
When it comes to M&A activity, the share of financial buyers such as private equity firms in Australia fell from 67 per cent to 12 per cent in the last financial year.
