Date posted: 28/09/2022

Submission on Professional Standards framework for financial advisers

Joint Associations Working Group - Professional Standards framework for financial advisers

In brief

  • Consumer need for financial advice is increasing
  • JAWG collectively supports a modification to the existing adviser education framework

Consumer need for financial advice is increasing, for example over 100,000 individuals a year are expected to move into retirement each year for the next five years. In recent years there has been a massive exit of highly experienced advisers, which is expected to continue if current settings are not adjusted, resulting in access to quality, affordable advice becoming harder for consumers to obtain.

On that basis, the JAWG collectively supports a modification to the existing adviser education framework.

 

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