Treasurer Scott Morrison’s recent Recommendation 25 seeks to advance the need for advisers to have a relevant tertiary degree.While advancing yourself through study is never a bad thing, I want to ask if compliance degrees are absolutely the best way to advance the fledgling financial advice profession.
Is the Recommendation 25 advice the missing link for adviser competency? Further to that, will these newly-minted degrees ensure something more than competency in technical advice skills?
In 2002, the Australian government championed the Financial Services Reform (FSR), which sounded great at the time.
In the years since, we have seen an ever-increasing financial product compliance focus that didn’t stop or prevent a parade of scandals, crooks and unprofessional behaviour.…