Veteran Adviser Stands For Senate

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Veteran Victorian financial adviser Peter Hawks will stand as an independent Senate Candidate in the upcoming Federal Election stating his platform will represent the wishes of the ‘Silent Majority’.

Peter Hawks
Peter Hawks

Hawks, who is a member of the Association of Financial Advisers and is currently an authorised representative of Nextplan Financial, said he was concerned about developments in the financial advice sector that did not benefit advisers or consumers.

“All we hear in the media is a case of some adviser who has done the wrong thing, even then questionable, but nothing about the 100 or so success stories each week of people and families who have benefitted from their advice and services,” Hawks said.

“There does not appear to be much incentive for advisers to help people who are still grossly underinsured and still in most cases have not become financially independent even though the last 50 years have been in the main, very prosperous times.”

Hawks stated that advisers had been let down by Report 413 from the Australian Securities and Investments Commission as well as the Trowbridge Report which have led to lower commissions and longer clawback period. He said this has taken place without any consideration of the cost of providing advice nor the positive outcomes of financial self-sufficiency for advice clients.

He was also critical of recent changes to superannuation by the Federal Government stating it created uncertainty and anxiety and was unlikely to achieve the result of moving people from a reliance on the age pension.

Hawks began working in insurance in 1965 with Legal & General and was a co-founder of Associated Planners in the early 1980s before becoming an inaugural member of Nextplan, as well as being involved in the AFA when it was still called the Life Underwriters Association.



3 COMMENTS

  1. Good on you Peter. I hope the journey you are about to embark on will be rewarding, for you and for those of us you will represent.

  2. Good luck Peter and let us all hope you win, as it will be great to have 2 politicians with real life experiance, to try and educate the rest of the political spectrum, that changes need to be made to make the Life Insurance area, fairer for everyone.

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