BT Financial Group’s General Manager Advice, Mark Spiers today welcomed the Federal Government’s announcement to prioritise legislation increasing professional standards for financial advisers.
“We believe the new reforms will help lift the culture across the financial advice industry and raise the bar for all financial advisers,” Mr Spiers said.
“BT Financial Group has for several years been advocating for professionalism across the industry as part of a broader plan to increase transparency and restore customer confidence.
In 2014 we set our own minimum standards for BT financial advisers for ongoing certification, ethics training, professional industry membership as well as education,” Mr Spiers added.
BT Financial Group believes in transparency of adviser qualifications, professional standards and experience hence the reason it launched BT Adviser View in October 2014. Adviser View is a central register where customers can access and provide feedback on BT’s advisers.
“Adviser View provides a window into the professionalism and quality of our advisers. This is reinforced by our Advice Commitment to customers which promises if we get it wrong, we put things back on track,” Mr Spiers added.
“We are pleased to see the Government’s announcement is consistent with our proposal and we look forward to a compulsory code of ethics and increased professional standards across the industry to help protect customers seeking financial advice,” Mr Spiers concluded.
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Information is current as at 15/10/2016.