FPA calls for dilution of licensee influence
“Many FPA members complained that the prescriptive approach to compliance taken by their licensee limited their ability to exercise their professional judgement and deliver financial advice in a manner that was more affordable for their clients,” it said. “Licensees are responsible for the delivery of advice by their authorised representatives and so have a legitimate interest in setting standards and checking compliance,” the FPA submission said while noting that “over the past five years has led many licensees to taking an extremely conservative approach to compliance”. “FPA m...