Industry fund urges urgency on DBFO implementation
Major industry fund, Rest has urged the Government to make passage of its financial advice reforms a post-Budget priority arguing they are necessary to provide a pathway for superannuation funds to cost-effectively increase the scope and reach of financial advice.
Rest has used its pre-Budget submission filed with Treasury to state that it believes everyone should be able to access simple, convenient financial advice, “especially lower and middle income Australians like our members”.
The Government has scheduled handing down the Budget on 25 March.
Reduce the red tape for qualified advisers.
That should be the first and immediate priority.
Industry Super Funds, Jonesy & ALP only care for ISF FUM & ISF funded diverted profits to Union and Bike bosses and political donations to ALP.
Real Advisers are cannon fodder.
They are desperate to have their sales carve out rules for FUM retention passed before the next election. REST should focus more on the abysmal performance of their balanced fund over the long term, 5.6% over the last 10 years. How they keep passing performance tests is beyond me but shows how flawed and biased the test is.