allens

To fill Australia’s financial advice gap and empower better financial and retirement outcomes for millions, the government’s plan will create a “new class of advisers” from the institutional ranks to provide simple advice to customers. Industry groups have applauded the move.

Consumer access to sound advice comes first, according to Michelle Levy, the Allens partner who recently led a review into the sector. She urged the government to dispense with any further consultations and get on with implementing the review’s far-reaching reforms.