Senator Hume to Address Advisers at AFA Conference

The AFA has confirmed the new Minister responsible for the financial services sector, Senator Jane Hume, will make an address to advisers at its 2019 Conference in Adelaide at the end of this month.

AFA CEO, Philip Kewin, said Senator Hume has already taken an active interest in the financial services sector and financial advice in particular (see: New Financial Services Minister Welcomed).

“Her address [at this year’s Conference] will be the first opportunity for our adviser community to gain the most up-to-date progress report on Professional Standards, FASEA and the implementation of Royal Commission implementations,” said Kewin, who also noted the importance for delegates to have the opportunity to hear directly from the Assistant Minister about the Government’s forward agenda in relation to financial advice.

The 2019 AFA Conference will take place in Adelaide from 28 – 30 August under its new ‘United’ theme.

Click here for more details and to register to attend this year’s Conference.

  • paulkate72

    We advisers are sure that Senator Hume’s speech will result in a roll back of LIF, FASEA and all of the other odious, draconian regulations placed upon since 2013. Look forward to it.

  • Ken

    I suggest a typical politicians address saying plenty but not answering anything
    Seriously ! How can any politician give informed answers to the many questions we all have about LIF when they have only had the portfolio 4 months Our issues are not the only ones for the minister that relate to her role as financial services minister let alone a new one that has more detrimental issues than positive ones.
    Josh Frydenberg is the one we want up front to answer the questions on this legislation he happily and blindly pushed along to suit the FSC banks and insurers without thought for the families and financial commitments of the advisers who have brilliantly looked after their clients successfully and compassionately for decades. If I hear that b£€¥ S %#*t about the best consumer interests I will explode! Moralistic but far from the real agenda.
    I do hope some heavy questions are levied at the minister and an appropriate response given even if she had to get back in writing ASAP
    As it currently stands there WILL BE a mass exodus of advisers over the next few years with the real impact coming in December 2023.Certain articles I have recently read indicate ( supposedly) everyone is now on board with FASEA and committing themselves to the exams ? maybe ? to get another 3 -4 years in the industry as they work towards retirement or a “sea change in occupations. There is nothing wrong with education we all need to continue to learn and improve but not everyone sees full on financial Planning as a career ! Being a specialist in one area should be advocated for not lobbied against which is what is happening now.
    Even the current exodus of advisers far outweighs new adviser entries
    Tick tick the bomb is slowly but surely moving towards detonation and only strong and effective lobbying is going to save the retail insurance industry and prevent Australia’s already outrageous under insurance issues blowing out of control Time for talking is nearly up actions speak louder than words

  • Jeremy Wright

    Ken, you have hit the nail on the head.

    It would be nice if the AFA or an adviser who will be attending, could put a question to Senator Hume.

    The question could be,

    Senator, what guarantee will the Government put in place to compensate the thousands of advisers, in the event the supposed and heralded improvements to the consumer from all the draconian regulations imposed on advice practices, does not come to fruition and in fact, does the opposite, with the resulting thousands of advisers, being driven out of the Industry and Australians being forced to pay to pay the price of not having their experienced and trusted advisers to guide them any more.

    FASEA and the draconian LIF regulations that puts all the burden on advisers and leaves the big end of town to run amok with little consideration for the long term impact of their decisions on everyone else has not been looked at closely by the Government and will cost Tax Payers multi Billions of dollars and millions of Australians will be worse off.

  • disqus_J1cxQ4hGad

    Would one of the 10 advisers at the AFA conference please ask Senator Hume what the Govt is looking to change, to relieve some of the ridiculous pressure on Advisers regarding the time frames for FASEA 31/12/2020 and the Education requirements 01/01/2024?