{"id":33796,"date":"2016-07-12T14:19:39","date_gmt":"2016-07-12T03:19:39","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=33796"},"modified":"2016-07-13T08:32:54","modified_gmt":"2016-07-12T21:32:54","slug":"agendas-dusted-off-as-election-result-welcomed","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2016\/07\/12\/agendas-dusted-off-as-election-result-welcomed\/","title":{"rendered":"Agendas Dusted Off as Election Result Welcomed"},"content":{"rendered":"<p>The financial services and advice sector has generally welcomed the return of the Turnbull Government and has urged it to conclude\u00a0legislative changes to professional standards and life insurance reforms.<!--more--><\/p>\n<p>The Financial Planning Association (FPA), the Association of Financial Advisers (AFA) and the Financial Services Council (FSC) said the return of the Federal Government would see them engaging with it in due course, with the FSC also \u2018welcoming\u2019 the conclusion of the election and its outcome.<\/p>\n<figure id=\"attachment_33032\" aria-describedby=\"caption-attachment-33032\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/Dante-De-Gori_FPA-CEO-cropped.jpg\" rel=\"attachment wp-att-33032\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-33032\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/04\/Dante-De-Gori_FPA-CEO-cropped.jpg\" alt=\"FPA CEO Dante De Gori\" width=\"150\" height=\"181\" \/><\/a><figcaption id=\"caption-attachment-33032\" class=\"wp-caption-text\">FPA CEO Dante De Gori<\/figcaption><\/figure>\n<p>While the FPA stated it would continue its work promoting education and professional standards, FPA Chief Executive, <strong>Dante De Gori<\/strong> said changes to superannuation and life insurance \u201c\u2026will be key policy areas for the FPA to address with the returning Government\u201d.<\/p>\n<p>De Gori said the FPA would also continue its work in educating consumers around superannuation with the election results demonstrating that voters were dissatisfied with the changes in the May budget.<\/p>\n<p>AFA Chief Executive, <strong>Brad Fox<\/strong> said his association was waiting for the announcement of the government\u2019s ministry team before heading to Canberra but would also continue its advocacy work with the Labor Opposition, the Greens, minor parties and the independents<\/p>\n<figure id=\"attachment_30070\" aria-describedby=\"caption-attachment-30070\" style=\"width: 150px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/06\/Brad-Fox-2.jpg\" rel=\"attachment wp-att-30070\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-30070\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/06\/Brad-Fox-2.jpg\" alt=\"AFA CEO, Brad Fox\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-30070\" class=\"wp-caption-text\">AFA CEO, Brad Fox<\/figcaption><\/figure>\n<p>Fox did not address specific policy issues but stated the close election results placed pressure on all side of politics to act in the interest of the nation first.<\/p>\n<p>\u201cAustralians are looking for a clear vision of the future, well-considered policy and strong leadership. The constituents of the financial advice sector share this view,\u201d Fox said.<\/p>\n<p>\u201cWe will continue in our role of representing to Government the key issues and opportunities to raise trust and confidence in the financial advice profession, enabling the value of advice to be experienced by more Australians. We will also represent policy positions that lead to furthering the ability of more Australians to take control of their financial futures.\u201d<\/p>\n<p>The FSC called on the returned government to \u201c\u2026get straight to work on a broad and diverse reform agenda for financial services\u201d including the reintroduction of the Life Insurance Reform Bill and introduction of legislation to increase standards required of financial advisers, labelling these a key priorities.<\/p>\n<p>Calls were also made by the FSC for the reintroduction of legislation to allow consumers to choose their own super fund and more competition and governance across the superannuation sector.<\/p>\n<figure id=\"attachment_33404\" aria-describedby=\"caption-attachment-33404\" style=\"width: 150px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/06\/Sally-Loane.jpg\" rel=\"attachment wp-att-33404\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-33404\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2016\/06\/Sally-Loane.jpg\" alt=\"FSC CEO, Sally Loane\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-33404\" class=\"wp-caption-text\">FSC CEO, Sally Loane<\/figcaption><\/figure>\n<p>FSC Chief Executive <strong>Sally Loane<\/strong> said the financial services could provide future economic growth alongside other service sectors and \u201c\u2026the reform we are seeking is imperative for delivering better consumer outcomes. We urge the government and the Parliament to get on with the job of delivering this agenda\u201d.<\/p>\n<p>Non-aligned advice group Synchron called for certainty on how the Life Insurance Framework (LIF) would be applied to advisers given that its rough form was known to the industry.<\/p>\n<p>\u201cNow is the time to look at issues such as the LIF in the cold light of day and see how it will be implemented,\u201d said Synchron Director,\u00a0<strong>Don Trapnell<\/strong>, adding, \u201cThe basic thrust of LIF is there but there are certain areas we need to refine.\u201d<\/p>\n<p><strong>van Manen Returned in Tight Contest<\/strong><\/p>\n<figure id=\"attachment_31193\" aria-describedby=\"caption-attachment-31193\" style=\"width: 150px\" class=\"wp-caption alignleft\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/10\/Bert-van-Manen.jpg\" rel=\"attachment wp-att-31193\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-31193\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2015\/10\/Bert-van-Manen.jpg\" alt=\"Federal member for the Queensland seat of Forde, Bert Van Manen\" width=\"150\" height=\"180\" \/><\/a><figcaption id=\"caption-attachment-31193\" class=\"wp-caption-text\">Federal member for the Queensland seat of Forde, Bert Van Manen<\/figcaption><\/figure>\n<p>In related news, last week Riskinfo reported that <strong>Bert van Manen<\/strong>, the former financial adviser and the Liberal member for Forde in Queensland was facing a knife-edge result and was trailling his Labor opponent, <strong>Des Hardman<\/strong>, at the time of publication.<\/p>\n<p>Since then van Manen has pulled ahead and now leads by nearly 1000 votes on a two-party preferred basis and is nearly 4000 votes ahead on first preferences, with 87.8% of votes counted.<\/p>\n<p>He was a strong supporter of financial advisers in the last Parliament during debates around the Life Insurance Framework reforms and appears to have secured the seat for the Turnbull Government off the back of postal votes.<\/p>\n<p>His party colleague and Assistant Treasurer and Minister for Small Business prior to the election, <strong>Kelly O\u2019Dwyer<\/strong>, comfortably won her seat of Higgins in the inner suburbs of Melboune despite a slight swing against her towards a Greens candidate.<\/p>\n<p>O\u2019Dwyer attracted nearly 60% of votes on two-party preferred basis and was more than 12,000 votes ahead with 73.3% of votes counted at the time of publication.<\/p>\n<p>Speculation has appeared in mainstream media that her parliamentary roles may be split with another front-bencher following the announcement of the new cabinet next week.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial services and advice sector has generally welcomed the return of the Turnbull Government and has urged it to conclude\u00a0legislative changes to professional standards and life insurance reforms.<\/p>\n","protected":false},"author":3,"featured_media":33835,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,270],"tags":[4247],"class_list":{"0":"post-33796","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-associations","8":"category-compliance-regulation","9":"category-remuneration","10":"tag-feature"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/33796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=33796"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/33796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/33835"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=33796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=33796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=33796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}