AFA defends industry against Labor attackBY KARREN VERGARA | MONDAY, 21 JUN 2021 12:28PMThe Association of Financial Advisers has slammed the Labor Party's attack on financial advisers, which paints the profession as dodgy and continues to rip-off consumers. Related News |
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Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
I don't completely disagree with the parliamentarian's comments and as an adviser of almost 40 years, I have seen so much of what she referred to. No one says ALL advisers are shonky - like no one hates ALL lawyers - but enough are/do to make it fair comment. The problems that may arise need to be dealt with rather than ignored or worse, taken as personal insults.
Regulation must consider what may go wrong as well as what may go right - that's the whole point of regualtion. Jumping on every adverse comment without offering constructive criticism, or - better - a solution - is childish. That's one of the reasons I'm getting out of this business. I've not particularly enjoyed the company of far too many in it who've done little to enhance the status or the reputation of what should be a wonderful way to help people, but has been too exploitative for far too long.
The best antidote to unintended adverse comment is to take the air out of its sails - and ignore it. Good luck Philip (Carman) - a pity you're not staying on to help repair the damage to which Ms McAllister makes reference.