It has never been harder for Australians to access quality financial advice.
The Albanese Government is committed to improving the overall professional qualification framework to attract talent back into the industry.
Today we begin that process with the publication of a consultation paper exploring options for improving the overall advice offering.
By treating seasoned, respected advisors like undergraduates, the previous Coalition Government drove much-needed experience out of the industry without addressing quality of advice standards.
The consultation paper released today proposes removing the requirement for a bachelor’s degree if an advisor has 10 years’ experience, a clean record and has passed relevant exams.
It also proposes several options for amending current education requirements on new industry entrants.
The Government encourages anyone with an interest in strengthening the financial advice industry to share their views on these proposals.
Australians need to make the most of their super and other investments and quality advice can help.
