New register of financial advisers will increase transparency for consumers

The Financial Services Council said today that the establishment of an enhanced public register of financial advisers will increase transparency for consumers.

John Brogden, CEO of the FSC said: “The register is a sensible and practical move to ensure consumers can check the credentials of advice providers.”

“This will provide an additional security check for consumers,” he said.

“We look forward to working with the industry group on the development and implementation of this important measure.”

Mr Brogden also said: “The improved FoFA regime will allow more accessible and affordable quality advice to millions more Australians whilst maintaining the highest level of consumer protection in the world.”