Institute of Public Accountants welcomes register of financial advisers

The Institute of Public Accountants (IPA) has sounded its support for the Government’s announcement of a public register of financial advisers.

“The IPA was very happy to contribute to the working group to establish this register which will go a long way in boosting consumer confidence in the new financial advice regime,” said IPA chief executive officer, Andrew Conway.

“It is incumbent on professional associations such as ours to ensure that members have the appropriate and relevant qualifications and expertise to provide advice in the best interests of their clients.

“The activation of the register to commence in March 2015 should act as a timely reminder to ensure advisers have their house in order to comply with the Future of Financial Advice legislation.

“Consumers will be looking to this register as a viable reference point so we encourage our members that have not made a decision on their licensing options and business model to do so now.

“Practitioners should act now and not wait until the June 30 2016 conclusion of the transition period.

“The register will also support the Government’s financial literacy strategy by encouraging consumers to become more involved in the choice of adviser; and to support the development of trusted advisers,” said Mr Conway.