Rudd recommits to financial services
Kevin Rudd
The Prime Minister, Kevin Rudd, has recommitted the Federal Government to ensuring the international competitiveness of the Australian financial services sector, including the establishment of a dedicated team within the Federal Treasury.
In an address to a Financial Services Hub Summit in Sydney, Rudd restated that the Government recognised the enormous export potential of the financial services industry and said it was committed to developing policies to establish Australia as a regional financial services hub.
“The Government is convinced of the very substantial future potential for Australia’s financial services sector, both domestically and in regional and global markets,” he said.
Rudd said that the successful expansion into global markets would require a partnership between the Government and the financial services sector
Referring to the establishment of a dedicated team within Treasury, Rudd said that it would be tasked with taking charge of the financial services agenda for the Government and would represent a single point of contact for the sector.
AUTHOR
Mike Taylor
Recommended for you
BT is to launch a new low-cost “Focus” investment menu for its Panorama platform this October, in partnership with Vanguard, seeking to compete with industry superannuation funds.
Net gains of financial advisers have already doubled since the start of FY25, according to this week’s Padua Wealth Data, with momentum gathering pace far faster than the previous financial year.
National advice firm MiQ Private Wealth has appointed a new chief executive to lead the business through a “transformative era” after penning a partnership deal with AZ NGA earlier this month.
WT Financial’s managing director, Keith Cullen, believes the firm’s Hubco model with Merchant Wealth Partners will be a “repeatable growth model” for the business as it scales its adviser numbers.
