SAFAA drops ‘financial adviser’ name
The Stockbrokers and Financial Advisers Association has rebranded as the Stockbrokers and Investment Advisers Association (SIAA).
The organisation said this reflected the breadth of its membership’s roles and responsibility given not all members provided financial advice.
It also distinguished members from other types of financial advice providers and focused on the interest of investors.
Brian Sheahan, chairman of SIAA, said: “Our name change clarifies who our members are and proudly encapsulates the value our members add to the community of investors, businesses seeking capital and, ultimately, the economy.
“The tagline accompanying our new name — ‘Serving the interests of investors’ — captures the fiduciary relationship our members have with investors,” he noted.
SIAA chief executive, Judith Fox, added: “The name change allows for recognition that different forms of financial advice provide different services to clients, according to their needs.”
“This clarification is helpful to the community when thinking about how to generate wealth over the long term by investing in equity and debt markets.”
AUTHOR
Laura Dew
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
