The Financial System Inquiry (FSI) has put the spotlight on the financial advice industry, with strong proposals to improve the education, qualifications and professionalism of advisors providing Tier 1 advice.
Graeme Colley, the SMSF Professionals’ Association of Australia’s (SPAA) Director of Technical and Professional Standards, says the FSI’s proposals come as no surprise, being part of an ongoing push towards greater professionalism in the financial advice space.
“SPAA fully endorses the report’s recommendations that urge a relevant tertiary degree, competence in specialised areas such as self-managed super, and ongoing CPD requirements, as well as the setting of an enhanced public register of all advisors, including those who are employees.”
Colley says that SPAA’s 2015 national conference, titled “Lifecycle”, being held in Melbourne from 18-20 February, will provide the first opportunity to publicly debate all these issues raised by the FSI in a national forum. It will also allow delegates to access top class professional education and gain CPD points.
“The conference, which has more than 36 conference sessions and 50 expert speakers, now assumes even greater importance with the release of the FSI report and in particularly its recommendations regarding financial advisors.
“In addition, those attending the thought leadership breakfast on the first morning of the conference will have the privilege to hear first-hand from the FSI chairman, David Murray.
“He will be part of a panel of four, with the others being Mark Johnston, who has had more than 40 years’ experience in the banking and corporate finance, Don Russell, one of the architects of compulsory superannuation, and SPAA CEO Andrea Slattery,” he says.
