{"id":52798,"date":"2020-10-27T13:37:28","date_gmt":"2020-10-27T03:37:28","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=52798"},"modified":"2020-11-03T13:38:30","modified_gmt":"2020-11-03T03:38:30","slug":"latest-poll-simple-or-complex-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2020\/10\/27\/latest-poll-simple-or-complex-advice\/","title":{"rendered":"Latest Poll &#8211; Simple or Complex Advice?"},"content":{"rendered":"<div id=\"polls-242\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Do you support the call to legally define 'personal financial advice' as either Simple or Complex?<\/strong><\/div><div id=\"polls-242-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Yes <small>(57%)<\/small><div class=\"pollbar\" style=\"width: 57%\" title=\"Yes (57% | 115 Votes)\"><\/div><\/li>\n\t\t<li>No <small>(30%)<\/small><div class=\"pollbar\" style=\"width: 30%\" title=\"No (30% | 61 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(13%)<\/small><div class=\"pollbar\" style=\"width: 13%\" title=\"Not sure (13% | 26 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_242_nonce\" name=\"wp-polls-nonce\" value=\"06debbcf70\" \/>\n<\/div>\n\n<p>Our latest poll asks a simple question about a complex issue.<\/p>\n<p>Can or should the relative complexity (and perceived risk) of personal financial advice provided to consumers inform the level of the qualifications required of the adviser delivering the advice and the nature of compliance which must be observed?<\/p>\n<p>This question arises out of the release last week of a <a href=\"https:\/\/riskinfo.com.au\/news\/files\/2020\/10\/201020-Future-of-Advice-Report_-1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> from Rice Warner, commissioned by the FSC, which calls for personal financial advice to be re-defined as part of a broader agenda to open access to more affordable financial advice for more Australians (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2020\/10\/20\/launch-of-radical-plan-to-revamp-financial-advice\/\" target=\"_blank\" rel=\"noopener noreferrer\">Launch of Radical Plan to Revamp Financial Advice<\/a>).<\/p>\n<p>As we&#8217;ve said, we&#8217;re asking you a very simple question &#8211; about simple and complex advice &#8211; but the issue itself is likely fraught with complexity.<\/p>\n<p>Industry stakeholders are presently reflecting on the FSC&#8217;s proposition and while some have acknowledged it as a great conversation-starter to work towards a simpler advice mechanism for consumers, others remain unconvinced as to whether personal financial advice can be compartmentalised along the lines proposed (see also: <a href=\"https:\/\/riskinfo.com.au\/news\/2020\/10\/27\/call-to-level-the-playing-field-for-financial-advisers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Call to Level the Playing Field&#8230;<\/a>).<\/p>\n<p>What&#8217;s your view? Do you think that re-defining personal financial advice along the lines proposed in Rice Warner&#8217;s report is the way to go &#8211; that it will better service consumers and benefit the advice profession? Or do you think it will only create more uncertainty and even more complexity to the adviser\/client narrative, even when its intention is the reverse?<\/p>\n<p>It&#8217;s over to you. <a href=\"https:\/\/riskinfo.com.au\/news\/files\/2020\/10\/201020-Future-of-Advice-Report_-1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click here<\/a> to access the FSC\/Rice Warner <em>Future of Advice<\/em> research report. Let us know what you think, and we&#8217;ll report back next week&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest poll asks a simple question about a complex issue. Can or should the relative complexity (and perceived risk) of personal financial advice provided to consumers inform the level of the qualifications required of the adviser delivering the advice and the nature of compliance which must be observed? This question arises out of the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":52808,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,8,49],"tags":[],"class_list":["post-52798","post","type-post","status-publish","format-standard","has-post-thumbnail","category-associations","category-compliance-regulation","category-polls"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/52798","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=52798"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/52798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/52808"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=52798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=52798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=52798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}