In what it called ‘a step in the right diredction’, the FPA released a statement just prior to the election last week that supported the Federal Coalition’s plans to consult with the financial services industry about the recommendations contained in the Cooper Review of Superannuation, particularly in relation to the MySuper proposal.
In welcoming the Coalition’s commitment for a full industry discussion of MySuper, FPA CEOMark Rantall highlighted the need for greater involvement by employers and consumers in retirement savings:
“Greater education, participation and professional advice in Superannuation is essential,” he said.
“The FPA is urging the Coalition, like Labor, to do more to promote the importance of Australians seeking financial advice and to prepare for their retirement, said Mr Rantall, adding, “Industry consultation on these issues will potentially ensure better outcomes for all consumers.”
The FPA has also welcomed the Coalitions’ commitment to address the prospect of allowing a tax deduction on financial advice fees as a way of making financial advice more affordable. The Labor Government, through Financial Services Minister, Chris Bowen, has previously discounted the possibility of allowing tax deductions on financial advice fees.
The FPA says it is ‘cautiously optimistic’ about a number of the announcements made during the election campaign and is looking forward to working with whichever party forms the new Government on hard and fast policies that will protect consumers and boost retirement savings for all Australians.
2010 FPA National Conference
Meanwhile, the FPA has released further details about its 2010 National Conference, to be held on the Gold Coast from November 24 to 26.
The theme of this year’s Conference is Your Wavelengthand is focused on on helping financial planners develop the key skills necessary to implement ongoing industry reforms.
FPA CEO, Mark Rantall said this year’s Conference would focus on the technical needs of financial planners, and has been designed by planners to ensure practical outcomes for their businesses.
“We want to make sure we support our members and other financial planners to properly transition their businesses, irrespective of who wins the election,” said Mr Rantall.
Click here for more details about the 2010 FPA National Conference.
2010 FPA Value of Advice Awards
Nominations have been opened for the 2010 FPA Value of Advice Awards.
These Awards are open to CFP professionals, or those undertaking the CFP Certification Program.
The Awards recognise excellence in financial planning and award FPA members who have demonstrated the true value of their advice.
Nominations are open until September 24 across four categories:
- Wealth accumulation and protection
- Pre-retirement planning
- Post-retirement planning and management
- Pro bono work
More information about the Awards can be accessed at: www.fpa.asn.au/awards, with the winners to be announced at the FPA’s 2010 National Conference.
