MenuPolicy Platform
Guiding the FAAA’s advocacy efforts until 2030
The FAAA Policy Platform is an important resource which aims to keep members updated on the progress of each of the our policy objectives.
Explore the themes, goals and objectives below and click ‘Learn more’ to see the specific recommendations and progress related to each of the objectives.
Theme 1
Improved ease of servicing clients with accessible advice
Goal: A single set of easy-to-understand rules that govern how to deliver professional financial advice in a clear, concise and engaging way for clients which is affordable to provide and access.
Theme 2
Continued professionalisation of financial advice
Goal: Financial advice is recognised and operates as a self-regulated profession
Theme 3
Ongoing enhancement of the profession and advice practices through the use of technology and innovation
Goal: Future-proofing the profession for advisers and their clients through better use of data and technology.
Use the filters to personalise the Policy Platform
Theme
Regulatory Body or Government Department
Impacted Audience
Timeframe of the goal
Objective 1.1
The Code of Ethics be adopted as the principles-based rules for financial advice
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 1.2
Rationalise the Best Interests Duty, and related obligations including the removal of ‘Safe Harbour’
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 1.3
Better regulation of advice documentation
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 1.4
Simplify the regulatory regime, reduce the cost of advice and create a consumer-focused profession
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 1.5
Take action to better enable the delivery of life insurance advice to facilitate more Australians being adequately covered
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.1
The removal of regulatory impediments to individual adviser responsibility and better protection of the rights of advisers and their practices
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.2
Establish the framework to move toward self-regulation of the profession
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.3
Maintain effective and appropriate education standards across all financial advice providers
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.4
Increase the understanding of the value and nature of advice for society and consumers
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.5
Increased flexibility for new entrants to meet the education standard
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 2.6
Providing pathways for foreign nationals to practice financial advice in Australia
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 3.1
Deliver a better user experience of digital platforms for consumers and advisers
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 3.2
Make data capture, storage and utilisation more streamlined across financial services
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
Objective 3.3
Work with government to secure planner access to client data via government portals
Regulatory Body or Gov't Department/s:
Impacted Audience/s:
