IFSA formally changes name to Financial Services Council
|
|
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.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
