Advisers may miss their chance: Cortesi
The association has announced it is holding a summit this month, on the accessibility of advice.
The summit will be a forum for discussion and development of recommendations for the FAA review across a number of areas, including closing the gap between expected behaviour and practice standards for all advisers, commission practices, replacement business, and the standards that apply to QFE staff.
PAA president Bruce Cortesi said the industry seemed to be stuck on some of the smaller issues that the review was seeking to address, and not considering the bigger picture. "The point is improving access to personalised and professional financial advice."
He said he was deeply concerned that the industry would not participate as fully as it could. Much of the communication about the review had presented it as being less relevant and important than it really was, he said.
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