The 2019 Financial Sector Inquiry, held by a Royal Commission, is important for all Australians. In today’s podcast Financial planner Alison Greenwood shares her thoughts on the outcome, both good and bad, and it’s impact on you and your family.
Alison is passionate about helping everyday people grow their financial understanding. She believes that seeing a financial advisor is something everybody should do, whatever stage of life or career they’re in.
Show Notes – Financial Sector Inquiry
- The Financial Sector Royal Commission has introduced a number of changes to the industry. Alison believes most of these changes are for the good, although there are some down sides.
- By 2024 all Financial Planners MUST have a postgraduate degree in Financial Planning, as well as pass a 3.5 hour exam.
- It’s believed that in five years there will be 50% less financial advisors practicing in Australia. This sounds dramatic, however it gives an assurance that anybody still in the industry will be fully qualified.
- If you’re looking for a financial planner in the next few years it’s important to ask bold questions. Find out whether they’re planning on staying in the industry long-term, and what qualifications they have.
- Alison is concerned that going to a financial planner will become more expensive. This could isolate the people who need help the most, and Alison hopes that these new rules don’t stop people from reaching out for sound advice.
To read the final report from Royal Commission CLICK HERE >>>
The Treasuring Mothers podcast is made possible with the generous assistance of the Community Broadcasting Foundation.
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