Letters of the month

“Let's give the Minister the support that he needs to make the necessary changes. You can't expect him to act without showing that support: https://www.advicematters.com.au/”

Keith Cullen

“Congratulations to Angus Taylor and Luke Howarth for taking the issue seriously and expending political capital on the removal of section 99FA from the DBFO bill. This section is heavily burdensome, risking increased costs and regulatory hurdles for financial advisers, and potentially leading trustees to an impractical review process. Minister Stephen Jones acknowledged that "we don’t want trustees reviewing every single Statement of Advice," but without legislative changes, the ambiguity and risk remain. The opposition's call to remove section 99FA is essential to prevent pouring sand into the system, adding unnecessary complexity and costs. Kudos to Scott Hartley for taking the right public position and not staying silent. His leadership, along with industry voices like Neil Younger and Edwina Maloney, highlights the real-world implications of this flawed legislation. It's time for the government to listen and amend the bill to truly deliver better financial outcomes for all Australians.”

Peter Swan

Financial Adviser

“It's good to see that Hartley gets it and is taking a public stance against the s99FA madness. Kudos to him. I wouldn't have expected something like this with Renato, so it's very encouraging to see we now have a CEO of one of the largest players in the space taking a pro-adviser position despite the political flack he might get. We need more CEOs to do this to remind the government and the non-profit gang that the for-profit space isn't going to be their punching bag anymore. Hartley's recognition of the potential liabilities and unworkable nature of checking every SOA highlights the urgent need for legislative modification to ensure a clear risk-based approach. His leadership is a crucial step in pushing back against these flawed changes and protecting both advisers and trustees.”

Peter Swan

Financial Adviser

“ASIC really have no idea about anything. And for Jim Chalmers and the ALP to have appointed the former activist CEO of CHOICE as an ASIC Commissioner is a disgrace.”

Chris Cornish

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