The Australian Government is Justified in Establishing a Single Disciplinary Body

McInnes Angelique ()
Additional contact information
McInnes Angelique: CQUniversity Australia, Level 21, 160 Ann Street, Brisbane, 4000 Australia

Financial Planning Research Journal, 2020, vol. 6, issue 1, 40-73

Abstract: Published empirical research (McInnes 2020) proves licensing financial advisers through multiple profit-driven Australian Financial Services licensees contributes to conflicts of interest by association. Government’s response is to regulate advisers by adopting a single disciplinary body (Frydenberg & Hume 2019) to professionalise advisers like established professions. This paper supports Government’s move to implement this body (Taylor 2020c; Maddock 2020), albeit delayed by COVID-19 (Taylor 2020a), by using the evidence published in a Routledge book (McInnes 2020). It aims to motivate advisers to work with policymakers to reshape financial advice into a true, accredited profession to address the problem of conflicted association, to make advice accessible (Marsh & Phillips 2019) and conflict free, while also dismantling costly compliance legislation (Smith & Sharpe 2020).

Keywords: Legitimacy; financial adviser licensing; single disciplinary body; structural equation modelling; professions (search for similar items in EconPapers)
Date: 2020
References: Add references at CitEc
Citations:

Downloads: (external link)
https://doi.org/10.2478/fprj-2020-0003 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:6:y:2020:i:1:p:40-73:n:1003

DOI: 10.2478/fprj-2020-0003

Access Statistics for this article

Financial Planning Research Journal is currently edited by Mark Brimble

More articles in Financial Planning Research Journal from Sciendo
Bibliographic data for series maintained by Peter Golla ().