Election: Financial Planning Association of Australia comments
CEO, Dante De Gori, CFP® says FPA will continue working with the Government on education and professional standards
The Financial Planning Association of Australia (FPA) will continue working with the Government on promoting education and professional standards following Malcolm Turnbull’s election victory.
FPA CEO, Dante De Gori, CFP®, said changes to superannuation, education and professional standards and life insurance frameworks will be key policy areas for the FPA to address with the returning Government.
“The FPA is committed to promoting education and professionalism, and we will continue to work with the Federal Government on the implementation of policies that ensure the highest professional standards,” said Mr De Gori.
From a consumer point of view, Mr De Gori said the FPA would continue its work in educating Australians around superannuation.
“The proposed $500,000 life-time non-concessional cap, changes to the transition to retirement (TTR) strategy and the reduction of concessional contribution cap thresholds were of particular concern in the May budget announcement as it means that almost all financial planners and clients will have to review the circumstances of those approaching retirement.
“The election results demonstrated that voters are also dissatisfied with proposed change to super. Though the FPA looks forward to working with Government on the proposed super changes, we will continue our advocacy work to help Australians navigate around these more complex rules, and plan for their retirement accordingly,” said Mr De Gori.
In addition to the FPA’s policy work, Mr De Gori said members will be urged to engage with and build a relationship with their local Federal MPs.
“We have developed a new Advocacy Kit, which enables FPA members to reach out to their local MP. By working with local members of parliament we can raise community awareness of the power of financial advice in achieving financial independence. The Advocacy Kit equips planners with tools and guidance on how to do this, using traditional methods such as a call or letter, as well as digital and social channels,” said Mr De Gori.