Financial Planning
Advisers: Keep your clients off A Current Affair

Sunsuper chief economist Brian Parker told delegates at the AFA National Adviser Conference their role is to ensure their clients don't end up a case study for A Current Affair.

Ending his presentation on the state of the global economy this week, Parker told delegates he hopes the current climate would not deter them from doing what needs to be done for their clients.

"One of the things I worry about at the moment is our industry," Parker said.

"Forgive me if I'm out of line here. Putting aside the events of the Royal Commission, our industry is going through a hell of a lot of turmoil. There's been so much attention on financial planning and financial advice."

Parker said the financial advisers he had worked with throughout his career were "really good people, who bust a gut to look after their clients."

He added that he hopes advisers will be able to withstand the pressure on the industry, for the sake of their clients.

"I hope it doesn't deter you from what you need to do. Especially in a world like this, where there's such a risk that clients will end up making major financial mistakes," he said.

"I used to say to people that the role of a financial adviser was to keep their clients faces off A Current Affair. I still believe that."

Parker's comments came after he warned delegates of an impending recession, which he believes could take hold in 2020, rather than next year.

"It is a late cycle world, there will be a recession at some point in the next few years," he said.

"2020 seems like a reasonable bet. Smarter economists than me are saying 2020, in fact there are plenty of them."

Read more: A Current AffairBrian ParkerAFARoyal Commission
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