The 2011 Financial Planning Association conference has ended in Brisbane with a lively Q&A session featuring several industry heavyweights the highlight of Friday’s programme (18 November).
Facilitator Tony Jones, host of the ABC’s Lateline and Q&A, ensured the debate on the future of financial advice flowed smoothly with any political grandstanding on FoFA reforms quickly brought back on point.
Federal Member for Oxley, Bernie Ripoll, and Shadow Minister for Financial Services and Superannuation, Mathias Cormann, clashed repeatedly on the scale and timing of the Government’s reforms.
The latter said the Government’s agenda had been hijacked by parties with vested interests in the outcome and committed the Opposition to overturning elements of the reforms such as ‘opt-in’ if elected to office.
Playing the part of pantomime villain was Industry Super Network spokesperson, David Whiteley, who said most negative reaction to “opt in” was based on the misconception that the current system was working optimally.
FPA chief executive, Mark Rantall, said he was disappointed that the debate had devolved to the extent that ‘opt in’ had become the focal point of the reform agenda.
Financial planner Greg Cook and Professional Planner editor Simon Hoyle both added their industry experience to the discussion.
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