The bottom line - super funds should be giving more adviceBY CRAIG KEARY | SATURDAY, 24 DEC 2022 9:56AM The Quality of Advice Review (QAR) proposals offer a fresh regulatory model that supports solving the challenge of millions of unadvised Australian consumers. A key element of ... Upgrade your subscription to access this article
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Cover Story
The super, super fund
DEANNE STEWART
CHIEF EXECUTIVE OFFICER
AWARE SUPER
CHIEF EXECUTIVE OFFICER
AWARE SUPER
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The regulatory response to the Royal Commission was inappropriate and has proved dis-functional. The main culprits for inappropriate behaviour was the Product Providers who entered the Advice industry - ownership of licensees.
The correct response should have been to prevent conflict of interest! How? All industry participants to choose Product or Advice and NEVER both.
Now that the departure of both advisers and product providers from the Advice space has demonstrated that the current compliance regime is prohibitive, should this obviously ideal approach be revisited?