AMP welcomes amendment to financial advice bill

AMP welcomes the Government's revisions to remove Section 99FA of the SIS Act as it relates the implementation of phase 1 of the Delivering Better Financial Outcomes (DBFO) reforms.

The Government should be commended for working with industry to effect change that will provide greater clarity for both superannuation trustees and financial advisers, and which will contribute to more affordable financial advice.

The amendments reflect the objectives of Quality of Advice Review, with the ultimate beneficiaries being the growing number of Australians requiring financial advice.

We look forward to continuing to work with Government and industry as we implement phase 1 of DBFO and as we look ahead to phase 2.

Matt Lawler, AMP Group Executive, Advice