Advice association merger up to membersBY HARRISON WORLEY | THURSDAY, 29 AUG 2019 12:42PMWhether Australia's peak bodies in financial advice merge is a matter for members to decide, according to Financial Planning Association of Australia chief executive Dante De Gori. Related News |
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The viability of both associations and their credibility is now on the line. To be regarded as a profession, these associations will need to STOP taking money from the very companies whose political influence has undermined every adviser and their business and consumers. Against a backdrop of Royal Commissions, questionable behaviour in fact illegal from the very institutions that sought to hurt the advice industry, incompetance from Canberra, who sought to only favor the very banks, life insurers, industry funds that would do us advisers harm, these associations essentially sat back and asked us to simply put up with the nonsense. Their utterances and comments and suggestions to regulators fell largely on deaf ears. Their incentive was selling courses to us that have proved to be of little value in the schem of things and we all now need to go back to school to have a business while 16 advisers have taken their ow lives and we find according to the RC that the regulators were not regulating, in fact according to many a news article, they were in bed with the swill that are the members of the financial services council. Yes do merge. With a new over arching FASEA code, new qualifications post 2023, much like the accounting and legal profession, will we need to be part of an association at all?. Yes to professionalism. Not with the current approach though which is visionless in construct and has no place for a profession such as financial planning. For the sake of the industry, our profession and consumers whose best interests we are to uphold, the current leadership needs to move on..