Powered by MOMENTUM MEDIA
subscribe to our newsletter
ABA supports financial planner register

ABA supports financial planner register

The Australian Bankers’ Association (ABA) has welcomed the announcement of an industry-wide public register of financial advisers by Mathias Cormann, minister for finance.

Diane Tate, acting chief executive officer of the ABA, said the register was an important initiative in ensuring consumers can find and choose a financial adviser that suits their needs.

“We have advocated to the federal government and consumer representatives for this register and believe it will provide consumers with the information they need to be confident in the financial advice they seek and receive,” Ms Tate said.

Advertisement
Advertisement

“The financial adviser register will improve transparency and strengthen the quality of data available to consumers about financial advisers, including their status in the industry, their qualifications and experience, what they are authorised to provide advice on, who they work for and the ultimate owner of their advice business,” she said.

“The register will be user-friendly with quick, simple and easy-to-use search functionality and disclose meaningful data.”

Ms Tate said the register is an important step in a program of measures to enhance transparency and raise professional standards in the financial advice industry.

“The banking industry has been working with the government to assist with the development of the register and will continue to support this initiative through implementation,” she said.

“Banks recognise the need for industry to drive change and are strongly committed to improving the quality, availability and affordability of financial advice and building confidence and trust in financial advice.”

ABA supports financial planner register
mortgagebusiness

 

Latest News

Ahead of Parliament returning next week, Prime Minister Scott Morrison has conceded that Australia is facing “challenges and headwinds” ...

Slater and Gordon has filed a class action against AMP claiming compensation for more than 2 million people it alleges have been charged ...

An aggressive monetary policy strategy employed in response to rate cuts in foreign markets would be a “dangerous path to go down”, Rese...

FROM THE WEB
podcast

LATEST PODCAST: Broker share and Westpac U-turn

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.