{"id":71188,"date":"2024-04-30T14:25:50","date_gmt":"2024-04-30T04:25:50","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=71188"},"modified":"2024-10-29T15:32:04","modified_gmt":"2024-10-29T05:32:04","slug":"faaa-releases-draft-policy-platform-for-consultation","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2024\/04\/30\/faaa-releases-draft-policy-platform-for-consultation\/","title":{"rendered":"FAAA Releases Draft Policy Platform for Consultation"},"content":{"rendered":"<p>The FAAA has outlined the direction of its future policy platform which has key themes around accessible advice, professionalism and the use of technology.<\/p>\n<p>The association is seeking input from its members into its draft policy platform as it begins its <a href=\"https:\/\/riskinfo.com.au\/news\/2024\/03\/06\/faaa-launches-2024-roadshow-series\/\" target=\"_blank\" rel=\"noopener\">2024 roadshow series<\/a> around Australia.<\/p>\n<p>General manager policy, advocacy &amp; standards, <strong>Phil Anderson<\/strong>, told the first day of the roadshow in Albury-Wodonga that the policy platform will guide the FAAA\u2019s advocacy activity with government, regulators and other stakeholders.<\/p>\n<p>It focuses on the three key themes:<\/p>\n<ul>\n<li>Accessible financial advice<\/li>\n<li>Professionalism of financial advice<\/li>\n<li>Using technology to better deliver financial advice<\/li>\n<\/ul>\n<figure id=\"attachment_63471\" aria-describedby=\"caption-attachment-63471\" style=\"width: 151px\" class=\"wp-caption alignright\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2022\/11\/Phil-Anderson-v3-e1668475631508.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-63471\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2022\/11\/Phil-Anderson-v3-e1668475631508-251x300.jpg\" alt=\"\" width=\"151\" height=\"181\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2022\/11\/Phil-Anderson-v3-e1668475631508-251x300.jpg 251w, https:\/\/riskinfo.com.au\/news\/files\/2022\/11\/Phil-Anderson-v3-e1668475631508.jpg 266w\" sizes=\"auto, (max-width: 151px) 100vw, 151px\" \/><\/a><figcaption id=\"caption-attachment-63471\" class=\"wp-caption-text\">Phil Anderson &#8230;the FAAA aims to finalise a policy platform that will provide a strong framework for advocacy<\/figcaption><\/figure>\n<p>Anderson says that by travelling across the country and engaging directly with members \u201c\u2026the FAAA aims to finalise a policy platform that will provide a strong framework for advocacy and best represents the views of its member base.\u201d<\/p>\n<p>He says the association would like to see a single set of easy to understand rules that govern how to deliver affordable, professional financial advice, in a clear, concise and engaging way.<\/p>\n<p>\u201cBy simplifying the regulatory regime and improving access to advice, it will drive down the cost and create a consumer-focused profession.&#8221;<\/p>\n<p>He adds that it\u2019s also important \u201c\u2026measures are in place to ensure that there is continued focus on the professionalisation of financial advice&#8230;&#8221;<\/p>\n<p>Anderson says that for financial advice to be recognised and for it to operate as a self-regulated profession \u201c\u2026we need to first establish the framework, maintain effective and appropriate education standards across all financial advice providers, while at the same time providing flexibility for new entrants to meet the education standard and join the profession.\u201d<\/p>\n<p>Ongoing development of the financial advice profession and advice practises, through the use of technology and innovation, is also a theme of the draft policy platform.<\/p>\n<blockquote><p>&#8230;We need to future-proof the profession &#8230; through better use of data and technology&#8230;<\/p><\/blockquote>\n<p>\u201cWe need to future-proof the profession for advisers and their clients through better use of data and technology.\u201d<\/p>\n<p>He says the FAAA supports regulatory reform \u201c\u2026that encourages the use of new technology, specifically AI, to make data capture, storage and utilisation more streamlined across financial services, which will deliver better service and outcomes for clients.\u201d<\/p>\n<p>The association is making the draft policy platform available for members for review and to provide feedback until 31 May 2024. It will release the final FAAA Policy Platform on 1 July 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The FAAA has outlined the direction of its future policy platform which has key themes around accessible advice, professionalism and the use of technology. The association is seeking input from its members into its draft policy platform as it begins its 2024 roadshow series around Australia. General manager policy, advocacy &amp; standards, Phil Anderson, told [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":71191,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[282,241,3],"tags":[],"class_list":{"0":"post-71188","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-associations","8":"category-conferences-and-events","9":"category-general"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/71188","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=71188"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/71188\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/71191"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=71188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=71188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=71188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}