The Legal Stuff
At last, at last! Regulation has come to our industry with the Financial Service Provider’s Act. All very good you say but what does this actually mean for both advisors and more importantly consumers?
It means that we as advisors now have to be registered with the Financial Service Providers Register (FSPR). Check out the link here:
We also have to belong to a disputes resolution scheme and provide clients with a disclosure document outlining the details our resolution scheme as well as the various insurance providers we have contracts with.
Hopefully this delivers greater transparency and confidence to the consumer as well as giving them an official avenue through which to make any complaint. Make sure to ask when talking to any financial advisor to provide you with these details. They are mandatory by law.
As we provide advice on Risk insurance Products we are what is known as RFA’s (Registered Financial Advisors) but feel free to check out our credentials on our Disclosure Statements below:
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