Compliance

Australia's Guardian Advice Opens Workshops To Ensure Regulatory Readiness

Vanessa Doctor Asia Correspondent 29 May 2013

Australia's Guardian Advice Opens Workshops To Ensure Regulatory Readiness

Guardian Advice, the Australian advisory group owned by Suncorp, has launched a series of workshops aiming to train financial advisors ahead of the 1 July 2013 mandated start of the Future of Financial Advice reforms.

The programme will run across Australia from 5 to 24 June and will accommodate over 200 advisors in a comprehensive workshop that includes the legalities and consequences of FOFA, pointers on articulating the value of the advice in line with FoFA guidelines, and recommendations on how to ensure that advisors can run a sustainable business in a post-FoFA environment.

The FoFA readiness programme is meant to ensure that all advisors will have the right tools and knowledge when the new guidelines take effect.

"People have gotten too caught up in the mechanics of FoFA when really the key requirement is about better client engagement and communicating the value of what advisors do for Australians every day," said Simon Harris, head of Guardian Advice.

"Under FoFA, upfront and ongoing fee disclosure will become even more transparent to consumers, and advisors will need to prove the value of their advice and that it is worth paying for," added Harris.

The workshops are open to both Guardian and non-Guardian advisors.

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