Sam Perera and Phil Anderson will take you through the Quality of Advice Review final report and explain why the AFA strongly supports the Quality of Advice Review recommendations.

There is no doubt that there are a number of recommendations where they are obviously beneficial for both clients and advisers, such as the removal of Fee Disclosure Statements. There are others where there is more argument, such as the proposal for non-relevant providers to provide personal financial advice. The AFA have argued for greater controls to be applied to this and for higher education standards to be created. We will also explain, why we think that this recommendation does have a role to play in the right circumstances.

The Quality of Advice Review recommendations have been presented as a package, and it will take strong advocacy to ensure that these changes are implemented. We all have a role to play in ensuring that this happens, however, it starts with having a clear understanding of what has been proposed and why it is good for clients and advisers.

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