Experience pathway consultation opensBY KARREN VERGARA | TUESDAY, 18 APR 2023 12:47PMThe federal government today opened consultation to clarify the educational requirements for experienced financial advisers and new entrants. Related News |
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Jason Huljich
JOINT CHIEF EXECUTIVE OFFICER
CENTURIA CAPITAL LIMITED
CENTURIA CAPITAL LIMITED
A single decision can change your life, and that's exactly what Centuria Capital joint chief executive Jason Huljich learned when he came to Australia in the 1990s. Eliza Bavin writes.
In the recent past, educational requirements were prescribed by academics, seeking to feather their own nest and it only made entry requirements too high which also lacked functional purpose. Treasury should do its research like an exit poll on advisers who left the advising profession and ask them why? (2018: 28,000 to 2022: 17,000. My actuarial model is that retail Financial Advisers should demographically be around 1% of population.) Otherwise, the dream-boat academics will try to reinvest another new wheel, as their theoretical contribution, so daunting history of requirements repeats itself! As I wrote in my submission to the QAR, there needs to horizontal coordination with the FP professional association as the Peak Industry Coordinator, to tell Treasury what needs to be implemented in Regulatory Industry Governance as a functional Microprudential framework. Vertical authorities across the Macroprudential world with the smartest legal eagles have failed in the last 50 years.