“Trusting you is my decision.  Proving me right is your choice.”

The Federal Government has introduced laws and regulations to build trust in financial markets and the Australian Financial Services Licensing system.

These are just a few of the laws and regulations a registered financial adviser must follow:

  1. Corporations Act 2001
  2. ASIC Act 2001
  3. ASIC Regulations
  4. FASEA 2017
  5. Privacy Act 1988
  6. AML/CTF Act 2006
  7. Australian Financial Complaints Authority
  8. Tax Practitioners Board
  9. ACCC
  10. SIS Act 1993
  11. SIS Regulations 1994
  12. FPA Professional Code of Practice 2010
  13. FSC Life Insurance Code of Practice

Research on consumer engagement conducted by ASIC in 2019 found that:

“Financial advisers have an important role to play in helping consumers improve their financial position, and there is a real opportunity for the advice industry to rebuild that trust by reorienting itself and putting consumers at the heart of its services.”

In 2012 the Financial Planning Association of Australia used Financial Planning Week as an important initiative to increase consumer confidence and trust in the industry.

The FPA’s consumer research found that in 2012:

“People with a dedicated financial planner are more likely to feel financially secure and are more confident in dealing with their greatest financial concerns than those without.”

When trust matters, will you be there to catch me?