Licensee leaders on trust, capacity and the reform agenda

From left: Chris Dastoor (moderating), Keith Cullen and Neil Younger.

Financial advice has never had a stronger reputation with clients or a bigger opportunity in front of it, but the system’s capacity constraints and regulatory blind spots are holding it back.

Professional Planner editor Chris Dastoor is joined by Entireti group chief executive Neil Younger and WT Financial Group managing director Keith Cullen to discuss the outlook for financial advice policy as Minister for Financial Services Daniel Mulino prepares to address the profession on the next steps in advice reform later this month.

This episode also explores why the fallout from Shield and First Guardian demands better underwriting of consumer risk in the superannuation system, the implications of the Financial Services Council white paper for licensing, why the licensees saw value in joining the FSC, ASIC’s Report 833 on platform trustee oversight, and the political fight to get Tranche 1 of the DBFO reforms fixed.

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One response to “Licensee leaders on trust, capacity and the reform agenda”

  1. David Haseldine

    There in lies the problem. People of this caliber stating in no uncertain terms “you cannot separate product and advice.” Bullshit! That statement is the single thing that is at the heart of the problem all the problems with Financial Planning becoming a respected profession. (See 25:15)

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Regulator ‘closely scrutinising’ Sequoia’s second crack at selling InterPrac 

Regulator ‘closely scrutinising’ Sequoia’s second crack at selling InterPrac 

In a second go at offloading its beleaguered financial advice licensee InterPrac, listed wealth management group Sequoia Financial has sold the business to Bellbird Australia. A deed of cross-guarantee with other entities in the Sequoia group has been revoked, raising the concerns of investors seeking compensation for losses in the failed Shield and First Guardian master funds.

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