{"id":38680,"date":"2017-10-13T17:00:44","date_gmt":"2017-10-13T07:00:44","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=38680"},"modified":"2017-10-17T07:38:00","modified_gmt":"2017-10-16T21:38:00","slug":"advisers-deserve-credit-but-need-to-achieve-higher-standards","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2017\/10\/13\/advisers-deserve-credit-but-need-to-achieve-higher-standards\/","title":{"rendered":"Advisers Deserve Credit But Need to Achieve Higher Standards"},"content":{"rendered":"

The financial advice sector should be given the credit it deserves as a profession but this will only come about as it progresses to higher professional standards, according to the Minister for Revenue and Financial Services, Kelly O\u2019Dwyer<\/strong>.<\/p>\n

\"The<\/a>
The Minister for Revenue and Financial Services, Kelly O\u2019Dwyer<\/figcaption><\/figure>\n

Addressing delegates at the AFA National Conference, O\u2019Dwyer said, \u201cThe Government strongly believes in professionalising your industry because of the important role it plays in the lives of the millions of Australians who rely on your advice, to help secure their economic prosperity\u201d.<\/p>\n

\u201cIt is my ambition as minister to set the course toward making it a universally respected, important and desirable profession. I want to see all Australians have the confidence to seek financial advice to help them secure their prosperity,\u201d she added.<\/p>\n

\u00a0\u201cThe Government strongly believes in professionalising your industry because of the important role it plays…”<\/h6>\n

O\u2019Dwyer said the complexity of advice had increased alongside the wealth of Australians but the actions of \u2018rogue advisers\u2019 and institutions had damaged the reputation of the wider profession.<\/p>\n

As such, it was the responsibility of the sector to win back the trust of consumers, according to O\u2019Dwyer who said advisers \u201c\u2026will not only need to have the necessary technical and strategic skills, but also the ethical awareness required to provide outcomes for consumers that are in their best interests\u201d.<\/p>\n

O\u2019Dwyer added that financial advice had moved from being an occupation to a profession but would only be regarded as such when the wider community also believed that was the case as well.<\/p>\n

The Minister said it was the task of the financial advice sector, with the Government, to lift the bar and outlined a series of previously announced policy positions, including new professional standards, consumer financial literacy and a single external dispute resolution service.<\/p>\n

\u201cYou are the partners with millions of Australians in building their wealth, in establishing and expanding their business and in giving them choices when they retire,\u201d O\u2019Dwyer said, adding \u201cThat is why we must lift the bar higher\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

The financial advice sector should be given the credit it deserves as a profession but this will only come about as it progresses to higher professional standards, according to the Minister for Revenue and Financial Services, Kelly O\u2019Dwyer.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,241],"tags":[],"class_list":["post-38680","post","type-post","status-publish","format-standard","category-associations","category-compliance-regulation","category-conferences-and-events"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/38680","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=38680"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/38680\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=38680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=38680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=38680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}