Hard work ahead: Welsh

Although 1999 was a great year for advisers, 2000 will provide many challenges to the industry, Frank Welsh told delegates at the AMP Financial Planning conference in Sydney recently.

Although 1999 was a great year for advisers, 2000 will provide many challenges to the industry, Frank Welsh told delegates at the AMP Financial Planning conference in Sydney recently.

Welsh, president of ABOM, the association representing AMP advisers, said his organisation would work closely with AMP to ensure the “extraordinary” legisla-tive and cultural changes of the next twelve months, which include CLERP 6 and the integration of GIO into AMP’s operations, go smoothly.

“One of our major goals is helping AMP achieve theirs. We understand AMP’s de-sire to provide maximum value to its shareholders,” he said.

Other areas of concern Welsh flagged were the implications of the Ralph reforms and the GST. He warned advisers not to be complacent after enjoying “a great year in 1999”.

“We must be vigilant. We cannot take for granted what we have here today.”

ABOM is in the process of forming a Hillross agents’ association and will be joined by a full-time industrial consultant this year, Welsh says. It will also build a closer relationship with the Financial Planning Association (FPA).

“We will seek to align ourselves closely to the FPA which we see as the peak body for advisers.”