Dealer group heads convene for summit

The Professional Planner Dealer Group Summit has opened at Lilianfels in the Blue Mountains with representatives of all the major licensees in attendance.

The two-day event aims to closely examine professionalism generally and what specifically must still be achieved for financial planners to operate as fully-fledged professionals.

The day opened with Deen Sanders, chief executive of the Professional Standards Council, looking at why managing and motivating a community of professionals requires a different approach from managing a sales force.

James Roberts, lead partner in the financial services advisory division of Ernst and Young, then gave some insight into how licensees should be looking to engage a professional work force.

The highlight of today’s program is a comprehensive Future of Financial Advice (FoFA) update and Q&A with Australian Securities and Investments Commission deputy chairman, Peter Kell, and parliamentary secretary to the treasurer, Bernie Ripoll.

Watch the video below for some thoughts from  Ripoll.

The Dealer Group Summit concludes Tuesday afternoon and further coverage of the event will appear on Wednesday and in the July issue of Professional Planner.

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High-risk AFSLs should pay the highest price, not advisers

High-risk AFSLs should pay the highest price, not advisers

While it’s impossible to eliminate fraud and corporate failures, ASIC must devote more resources to preventing them by closing gaps in the regulatory oversight of the industry. The biggest gap is the monitoring and surveillance of smaller AFSLs and, as such, smaller AFSLs should be contributing more to the ASIC levy, not advisers, writes Neil Macdonald.

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