Financial planners get statutory signing rights

After years of lobbying by the Financial Planning Association (FPA) financial planners have been granted a status equal with accountants, lawyers and justices of the peace – they can witness official documents for clients and others.

As of today, financial planners and advisers have been included within the terms of the Statutory Declarations Regulations 2018.

The FPA has been lobbying for financial planners and advisers to be recognised within the regulations for more than a decade and FPA chief executive Dante De Gori told Money Management he regarded their inclusion as a major win for his organisation.

“This is big win for financial planners/advisers and this ends an almost 10 year campaign by the FPA,” De Gori said. “This change follows on from having the terms financial planner/adviser enshrined in law. Another sign that the occupation of financial planning is being recognised as a profession.”

The FPA chief executive described the move as a significant step forward at a time of uncertainty for the broader financial planning industry.

“… though there is much uncertainty in the profession at the moment, this is a very important milestone and one that all our members should be proud,” De Gori said.

“I want to thank all our members who have continued to believe in themselves and in the profession – it is because of their resolve that we have been able to get this change and recognition. Practically this will provide an enormous benefit for clients and consumers more generally.”

Article from: www.moneymanagement.com.au