If the success of the Code of Ethics is marked by an industry that can self regulate and hold itself to account then we are a way off, Paul Moran, principal of self-licensed Moran Partners in Melbourne describes alongside UNSW’s Tracy Wilcox. Moran raises the possibility that a transition to this future state could be aided by a two-tiered approach to regulation.
In this stage of the industry’s progression, documentation will play an important role in advisers’ ethical practices, Jon Scukovic from Park Lane Advice Group in Melbourne and Western Sydney University’s Michelle Cull discuss in a conversation that traverses some of the principles and practicalities of implementing ethical practices.
Gordon Young brings his broader ethical lens to the conversation with practice owner and principal adviser Alysia Laird who both agree the early stages of the evolution of the profession has begun, something that’s particularly evident in the sharing of ideas and building of community that’s advanced quickly in recent years and is a hallmark of a thriving profession.
Industry stalwart adviser Tony Gilette talks about his passion for financial planning and why he decided to take on the challenge of new education standards and exams after decades of giving advice alongside AFCA’s June Smith who funnels her law background, ethics research and dispute resolution experience into the conversation.
Tick a box approaches to compliance might not only be expensive and time consuming but they could also be holding advisers back from taking the next step in putting ethics into practice and advancement towards broader community trust and professional recognition, JB Were’s Kym Bailey and McMahon Clarke’s Selina Nutley discuss.
Advisers might have full plates, not to mention challenges managing their businesses ongoing during lockdowns and a global pandemic, but they’ve still come a long way getting their heads around the Code and ethical thinking, Griffith University’s Katherine Hunt and Prosperity Financial Services’ Nidal Danoun discuss, while highlighting that the practical implementation of ethics into every day practices might still be lagging.