{"id":7399,"date":"2010-08-11T11:24:45","date_gmt":"2010-08-11T01:24:45","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=7399"},"modified":"2020-02-06T08:11:30","modified_gmt":"2020-02-05T21:11:30","slug":"coalition-would-create-better-financial-services-sector","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/08\/11\/coalition-would-create-better-financial-services-sector\/","title":{"rendered":"Coalition Would Create Better Financial Services Sector"},"content":{"rendered":"

\"Vote<\/a><\/p>\n

Advisers would\u00a0overwhelmingly prefer a new Coalition Government to manage Australia’s financial services sector, according to our latest poll.<\/p>\n

In an emphatic vote of no-confidence in the Labor Government, 89% of the hundreds of advisers who have taken part in our poll have\u00a0sided with a new Coalition Government\u00a0in answer to our question:<\/p>\n

Following the August 21 Federal Election, which Government will deliver a better financial services industry for advisers and consumers?<\/em><\/strong><\/p>\n

5% of advisers believe it will make no difference to the financial services industry regardless of\u00a0which party takes power after August 21, while only\u00a03% believe a returned Labor Government will be the best outcome for the financial services industry, its advisers and their\u00a0clients.<\/p>\n

Based on\u00a0comments submitted by advisers, there appears to be a general sense that it is not so much a Coalition Government that is preferred, but rather a Labor Government that is not.<\/p>\n

Many advisers have strong objections to what they see as\u00a0the close ties between the Labor Government and union-backed industry funds, believing this group\u00a0exercises too much influence over the Government:<\/p>\n

A return of the Labour Government will further entrench the Union power and takeover of the Australian Super Industry<\/em><\/p>\n

The indusrty Funds and unions don’t like competition. Return Gillard and the consumer will be the loser…<\/em><\/p>\n

Others believe that proposed industry reforms being considered by the Government will lead to unintended consequences:<\/p>\n

The people in this government … do not have the capacity to understand the unintended consequences of their reforms and instead of genuine consultation with industry try to dictate to industry. They do not respect that it is industry and business who understand the issues better than any government or review…<\/em><\/p>\n

One of the sad characteristics of modern Government is that they are so confined by their idealologies that they are incapable of thinking through a policy position to avoid un-intended consequences.<\/em><\/p>\n

Another observation places into perspective the nature of much of the debate currently surrounding proposed industry reforms:<\/p>\n

It is sad that throughout the “debate” that the emphasis has been on “how we are paid” rather than “what we do”<\/em><\/p>\n

This last comment also serves to highlight a further consensus amongst advisers, namely that Government decision makers and senior public servants still do not properly understand\u00a0the role of the financial adviser and the value they provide to their clients.<\/p>\n

With less than two weeks to go to Election day, now is an important time to have your voice heard.\u00a0 If you haven’t done so already, cast your vote in our poll and add your comments…\u00a0<\/p>\n

\"Vote<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Advisers would\u00a0overwhelmingly prefer a new Coalition Government to manage Australia’s financial services sector, according to our latest poll.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,49,270],"tags":[],"class_list":["post-7399","post","type-post","status-publish","format-standard","category-compliance-regulation","category-general","category-polls","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7399","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=7399"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/7399\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=7399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=7399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=7399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}