{"id":49779,"date":"2020-04-28T16:21:53","date_gmt":"2020-04-28T05:21:53","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=49779"},"modified":"2020-05-05T11:59:27","modified_gmt":"2020-05-05T00:59:27","slug":"black-swan-events-time-for-the-industry-to-take-stock","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/04\/28\/black-swan-events-time-for-the-industry-to-take-stock\/","title":{"rendered":"Black Swan Events – Time For the Industry to Take Stock?"},"content":{"rendered":"

An industry veteran says the current pandemic and the resultant ‘black swan’ events have created the opportunity for Australia’s life industry to take stock of what has occurred and the lessons that can be learnt.<\/p>\n

Barry Daniels<\/strong>, a former financial planner and the Founder of PFM Australia and Guardian Wealth Mortgage Managers, writes in an opinion piece that Covid-19 has been the \u2018black swan\u2019 event that has \u201c\u2026 revealed the gaps and monumental shortcomings of the current financial service system”.<\/p>\n

…there simply aren\u2019t enough practitioners<\/p><\/blockquote>\n

“At a time when professional financial advice has never been more important or needed by so many Australian consumers in desperate need, it is unaffordable and worse, there simply aren\u2019t enough practitioners,” says Daniels.<\/p>\n

\"\"<\/a>
Barry Daniels<\/figcaption><\/figure>\n

He says these events have provided an opportunity for regulators, industry and stakeholders \u201c…to pause, reflect and take stock of what has occurred and the lessons contained therein\u201d.<\/p>\n

He continues, \u201cI note with interest the manner in which a great portion of our politicians are acknowledging new insights on previously long held views, and even mistakes that have been made in past years in other key industries.<\/p>\n

Daniels is calling on the Federal Government to undertake a review of financial services looking through the lens of a perfectly imperfect world.<\/p>\n

His call is “…to back test the real impact of reform that has failed so appalling when it was needed most in the context of ensuring a strong viable financial services industry and affordable advice is available to all Australians.\u201d<\/p>\n

He also says steps need to be taken immediately to \u201c\u2026 limit the risk of losing more professional planners from the ranks of an industry that needs them so desperately at this time of need and in the future\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

An industry veteran says the current pandemic and the resultant ‘black swan’ events have created the opportunity for Australia’s life industry to take stock of what has occurred and the lessons that can be learnt. Barry Daniels, a former financial planner and the Founder of PFM Australia and Guardian Wealth Mortgage Managers, writes in an […]<\/p>\n","protected":false},"author":24,"featured_media":49784,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3],"tags":[],"class_list":["post-49779","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/49779","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=49779"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/49779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/49784"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=49779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=49779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=49779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}