Jones preps DBFO Tranche 2 for parliamentBY KARREN VERGARA | WEDNESDAY, 30 OCT 2024 12:17PMAssistant treasurer Stephen Jones said the government will press on with Tranche 2 of the Delivering Better Financial Outcomes (DBFO) reforms that he is preparing to introduce in parliament. Related News |
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Hugh Killen
MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
AUSTRALIAN AGRICULTURAL COMPANY LIMITED
For Hugh Killen, several life lessons came from spending time on pastoral properties stretching across northern New South Wales and South-West Queensland.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
So the wheel turns full circle and we return to an industry where Product Providers will employ "sales staff" of limited if any qualifications compared to licenced advisers and to confuse and confound consumers will call them Qualified Advisers. Will these providers of advice recommend anything other than their employers products, irrespective of suitability and affordability? So the whole Royal Commission was a waste of time and millions in money, given the only outcome has been the government destruction of the professional adviser industry. Perhaps because their qualifications are limited these politicians prefer "insto" advisers and and lie by calling them "Qualified". If we must return to the good old days of "conflicted interest" can we not at least tell the truth and call them Sales Consultants?