This podcast is produced in partnership with Colonial First State
The first tranche of the government’s Delivering Better Financial Outcomes bill reforming financial advice laws was plagued by ferocious debate and a series of drafting errors despite being originally slated as a bill of “quick wins”.
But industry leaders are preparing for what they fear will be an even more contentious round of policy formulation and consultation, as Treasury prepares draft legislation allowing super funds, banks and insurers to play a bigger role in advice and usher in the controversial new category of “qualified advisers”.
In the second episode of the new season of Professional Planner’s Shape of Advice podcast, Colonial First State CEO, superannuation, Kelly Power and Financial Services Council CEO Blake Briggs talk to Conexus Financial editor-in-chief Aleks Vickovich about the road to reform from here.
Power and Briggs made the case for why DBFO should matter to everyday Australians and urged the government to stay the course, while opening up about some of the new commercial opportunities it may open up for the profession.
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