Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

ASIC financial adviser register gets revamp

The corporate regulator has updated its public register of financial advisers, including education and professional association membership for the first time.

Assistant Treasurer Josh Frydenberg confirmed the update yesterday, describing the move as a “strong step in the right direction” and hailing it as a symbol of the government’s “ongoing commitment” to raising professional standards in advice.

The statement from Mr Frydenberg also revealed there are currently over 22,500 advisers listed on the register, and it has received more than 60,000 visits since its launch.

Advertisement
Advertisement

The register includes insurance brokers, accountants and stockbrokers licensed to provide advice as well as financial planners, the statement said.

ASIC deputy chairman Peter Kell issued a statement pointing to the consumer benefits.

“From today consumers will be able to see the qualifications and professional memberships in addition to the basic information about advisers already available on the register. We want consumers to be able to make an informed decision in their choice of adviser and the register is a good starting point,” he said.

Mark Spiers, head of advice at Westpac-owned BT Financial Group, also welcomed the move, saying it would improve professionalism and transparency in the sector.

However, the National Seniors lobby group issued a warning to consumers complaining that the government’s changes did not go far enough.

ASIC financial adviser register gets revamp
mortgagebusiness

Latest News

A major insurance provider has announced that it would restrict its offering of lender’s mortgage insurance in light of emerging risks ass...

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pan...

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the ap...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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