OPINION PIECE - by Zach Castles, Policy Manager – Advice
A lot has been said about advice businesses experiencing a surge in demand for their services as they support clients through matters relating to early access to superannuation, redundancy, life insurance, pension minimums and more.
The FSC recently caught up with Advice leaders and FSC members to hear more about how the industry is responding to the surge of activity relating to COVID-19:
The FSC’s plan to make it easier to access scaled financial advice
Increasing access to affordable advice is a core part of the FSC’s plan to accelerate economic growth, as explored in the Accelerating Australia’s Economic Recovery report released last week.
A key proposal is a two-year reform to make it easier for Australians to access scaled financial advice. Scaled advice would be documented through a Record of Advice allowing clients to seek advice on a specific subject, such as the impact of a redundancy or a hardship withdrawal from superannuation.