It’s hard to believe we’ve just clocked the end of another financial year. It really doesn’t seem that long ago we just completed our last round of tax returns! I hope you managed to make the most of your deductions and income.
And it’s been a big year too for what was formerly known as the financial planning industry. 2016 is the year the Government began to view us as a profession… although, you may agree that that still needs a bit of work.
Now is the time where many advisers will have to choose whether or not they will earn the right to continue as planners. The proper qualifications will be needed and recognised, ongoing training and accountability measures will be put into place, and all are aimed at protecting the consumer. That’s a win, right?
Building consumer trust has always been the end game and following in it’s wake, better recognition and respect for professional planners.
We’ve also managed to have enshrined the terms Financial Planner and Financial Adviser which will make it easier for the public to find professionals to provide them with advice. From 1 January, 2019, anyone claiming to be a financial planner without the qualifications to do so, will be breaking the law, so you’re less likely to end up in the wrong hands. Another win!
So, we’re pretty sure you’ve had a big financial year, and we hope you’re set for an even more cracking year ahead.
It’s time to take a load off and enjoy the weekend.
Happy EOFY everyone!