Advice industry must not rest on laurels: DiamantidisBY JAMIE WILLIAMSON | FRIDAY, 26 MAY 2017 12:11PMThe financial advice industry has resigned itself to underperforming and allowed the public to relegate financial matters. Related News |
Editor's Choice
ASIC cancels AFSL of Australian Fiduciaries
ASIC has cancelled the Australian financial services licence (AFSL) of Queensland-based Australian Fiduciaries, which is currently in liquidation.
Treasury expects regulators to do the heavy lifting
Treasury has released new Statements of Expectations for APRA and ASIC, with an emphasis on how the regulators should promote a more sustainable and secured financial ecosystem.
NGS Super names head of strategy
NGS Super has appointed a former ASFA committe member as head of strategy, as the fund aims to strengthen its retirement offering.
SS&C axes jobs, shifts roles offshore
US software services giant SS&C Technologies has slashed 170 Australian roles in the operations, technology and delivery teams.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
Agree with much of that, Pieta. As a 35 year veteran of the advice industry I've spent 25 of those years teaching clients how to "fish" so they can become independent of me and handle their own decisions, but with my ADVICE rather than me DOING it all for them. They appreciate that, but it requires courage on both sides - me to not fear losing them and them to take responsibility. It is ultimately the only ethical approach to what we do. You wouldn't want your (adult) children to be dependent upon you for the answers, so why would you want that of a client - other than self-interest? It requires that you don't get paid for transactions but rather for teaching. That's a challenge not many in our industry are up for yet and certainly not one that their masters (Dealer Groups - there's a clue in the name) would encourage!