Poll Results – Individual Registration of Advisers?

Our latest poll results suggest the majority of advisers support the proposition that they should be individually licensed (see: FPA Calls for Major Overhaul).

Well over half of those voting in our latest poll (56 percent) support the recommendation that would see an individual registration replace the current AFSL system. However, more than a quarter (26 percent) were against the idea while nearly one in five (18 percent) were unsure.

One adviser commented that “…the current maze of compliance and auditing is a road to oblivion”.

“The largest licensees with deep pockets and huge resources, are struggling to meet all the requirements, so what hope would individual advisers have?”

Another stated that the current licensing regime “…creates a significant power imbalance, a situation that must end if we are to truly move to a profession. A model where financial advisers select the services they wish to receive from the institution will dramatically improve the service received and their attitude. Moreover, this will ensure the focus returns back to providing superior outcomes for the end-clients”.

Our poll remains open for another week and we encourage you to have your say…