Quality of Advice Review - Proposals Paper

This consultation process has now been completed. Submissions available
Date
-
Consultation Type
Proposals Paper

Key Documents

The final terms of reference for the Quality of Advice Review were released on 11 March 2022.

After considering feedback on the Issues Paper, this consultation seeks feedback on proposals for reform listed in the Proposals Paper for the Quality of Advice Review.  The purpose of these reforms is to simplify the regulatory framework to better enable to provision of high quality, accessible and affordable financial advice for retail clients.

Submissions will assist the Reviewer in the preparation of a Final Report.

Proposals paper webinar

To assist with understanding the proposals outlined in the Proposals Paper, the Reviewer, Ms Michelle Levy, and the Director of the Quality of Advice Review Secretariat, Mr Jordan George, have recorded a webinar. It explains the proposals and Ms Levy’s rationale for the suggested changes.

Related content

Submissions

178 submissions were received for this consultation, including 29 confidential submissions.

13 independent financial advisers - pdf 282.94 KB
abrdn - pdf 306.61 KB
Actuaries Institute - pdf 300.09 KB
Acuity Advisers - pdf 449.51 KB
AFSL Compliance - pdf 883.9 KB
AIA - pdf 349.95 KB
AMP - pdf 282.18 KB
Angela Aspinall - pdf 452.63 KB
Anonymous 1 - pdf 2.16 MB
Anonymous 2 - pdf 231.65 KB
Anonymous 3 - pdf 210.35 KB
Aspire Financial Consulting - pdf 174.72 KB
Association of Financial Advisers - pdf 172.82 KB
Association of Independent Retirees - pdf 280.99 KB
Association of Independently Owned Financial Professionals - pdf 314.78 KB
Association of Securities and Derivatives Advisers of Australia - pdf 193.57 KB
Association of Superannuation Funds of Australia - pdf 150.54 KB
Assured Support - pdf 225.89 KB
Australian Banking Association - pdf 638.84 KB
Australian CFD and FX Association - pdf 3.05 MB
Australian Financial Markets Association - pdf 226.2 KB
Australian Institute of Superannuation Trustees - pdf 298.85 KB
Australian Retirement Trust - pdf 1.04 MB
Australian Small Business and Family Enterprise Ombudsman - pdf 296.88 KB
Australian Timeshare and Holiday Ownership Council - pdf 1.08 MB
AustralianSuper - pdf 689.52 KB
Aware Super - pdf 222.77 KB
Ben Maw - pdf 427.76 KB
Bongiorno Wealth Management - pdf 448.9 KB
Brad Scally - pdf 273.49 KB
Bravura Solutions Limited - pdf 397.34 KB
Brett Walker - pdf 170.26 KB
Bronwyn Bruce - pdf 438.02 KB
Burrell - pdf 917.87 KB
Capital Preferences - pdf 3.38 MB
Catalpa - pdf 482.04 KB
Centrepoint Alliance - pdf 333.92 KB
CFA Societies Australia - pdf 397.54 KB
Challenger - pdf 252.5 KB
Chant West, Lonsec Research, SuperRatings and Zenith Investment Partners - pdf 582.8 KB
Chartered Accountants Australia and New Zealand - pdf 524.7 KB
Chartered Accountants Australia and New Zealand (CA ANZ), the Institute of Public Accountants (IPA) and the Self Managed Super Fund Association (SMSFA) - pdf 10.83 MB
Chris Shelling - pdf 454.38 KB
ClearView - pdf 295.59 KB
Colonial First State - pdf 332.88 KB
CPA Australia - pdf 610.21 KB
Customer Owned Banking Association - pdf 168.83 KB
Daniel Jackson, Andrew Lane and Dr Angelique McInnes - pdf 887.1 KB
Dr Pamela Hanrahan - pdf 740.47 KB
Dr Paul Moran, Virginia Dowd and Adviser Group - pdf 457.42 KB
Encore Advisory Group, Finura Group and Tangelo Advice Consulting - pdf 227.59 KB
Ethical Investment Advisers - pdf 430.69 KB
Fiducian Financial Services - pdf 489.48 KB
Financial Planning Association of Australia - pdf 372.26 KB
Financial Services Institute of Australasia - pdf 299.67 KB
Finder - pdf 75.7 KB
Finplan - pdf 459.61 KB
FinTech Australia - pdf 186.8 KB
Fortitude Wealth Partners - pdf 492.83 KB
Frost Financial Planning - pdf 440.63 KB
FYG Planners - pdf 466.27 KB
George Collie - pdf 393.19 KB
Gerald Kirk - pdf 112.65 KB
Gilbert + Tobin - pdf 301.53 KB
Goldfinch Advisors - pdf 3.57 MB
GPS Wealth - pdf 450.28 KB
Grain Trade Australia - pdf 351.2 KB
Guideway Financial Services - pdf 402.68 KB
Herbert Smith Freehills - pdf 219.83 KB
HESTA - pdf 420.32 KB
Holley Nethercote Lawyers - pdf 259.62 KB
Horizon Wealth Management - pdf 452.28 KB
Hostplus - pdf 532.14 KB
Hub24 - pdf 468.18 KB
Ignition Advice - pdf 538.64 KB
Industry Fund Services - pdf 476.02 KB
Industry Super Australia - pdf 261.92 KB
Insignia Financial - pdf 318.11 KB
Institute of Managed Account Professionals - pdf 460.51 KB
Institute of Public Accountants - pdf 480.5 KB
Insurance Council of Australia - pdf 146.55 KB
Jim Stackpool - pdf 526.6 KB
John Dacker - pdf 592.23 KB
John Mulcahy - pdf 406.77 KB
Joint Consumer Submission - pdf 193.52 KB
Joint Licensees - pdf 748.5 KB
Julie Matheson - pdf 529.26 KB
Ken Helsby - pdf 438.75 KB
Kit Legal - pdf 503.2 KB
Law Council of Australia - pdf 301.82 KB
Law Society of NSW - pdf 291.55 KB
Leanne Bull - pdf 634.97 KB
Leculier Financial Services - pdf 394.28 KB
Leigh Anoos - pdf 998.45 KB
Link Advice - pdf 269.5 KB
Madison Financial Group Adviser Council - pdf 889.96 KB
Mark Sanders - pdf 525.52 KB
Matthew Caruana - pdf 436.76 KB
Mercer - pdf 277.61 KB
Michael Rice - pdf 451.96 KB
Milnes Ellis - pdf 39.82 KB
MinterEllison - pdf 278.36 KB
MLC Life Insurance - pdf 441.48 KB
Morgans Financial - pdf 422.07 KB
MTP Financial - pdf 139.44 KB
National Insurance Brokers Association - pdf 430.36 KB
Norman Hodgkinson - pdf 3.6 MB
OpenInvest - pdf 454.25 KB
Otivo - pdf 457.64 KB
Paramount Financial Solutions - pdf 178.79 KB
Paul Moran - pdf 125.31 KB
Profession of Independent Financial Advisers - pdf 186.21 KB
Profusion Planning - pdf 444.61 KB
Queensland Financial Group - pdf 231.11 KB
Resolution Life Australasia - pdf 563.55 KB
Rest Super - pdf 1.19 MB
Richmond Private Wealth - pdf 213.63 KB
Robert M C Brown - pdf 139.16 KB
Robert Oser - pdf 321.84 KB
Ross Clarke - pdf 1011.31 KB
Roxburgh Securities - pdf 637.96 KB
Russell Mann - pdf 439.04 KB
Ryan Murphy - pdf 436.69 KB
SBA Financial - pdf 416.06 KB
Scientiam - pdf 451.19 KB
Sequoia Financial Group - pdf 462.66 KB
Six Park Asset Management - pdf 355.81 KB
Sky Summit Financial - pdf 456.44 KB
SMSF Association - pdf 276.87 KB
Snowgum Financial Services - pdf 267.45 KB
Steve May Financial Services - pdf 358.76 KB
Steve Melling - pdf 92.55 KB
Stockbrokers and Investment Advisers Association - pdf 317.86 KB
Stockspot - pdf 460.93 KB
Strata Community Insurance - pdf 517.77 KB
Suncorp - pdf 319.47 KB
Super Consumers Australia - pdf 143.33 KB
SuperEd - pdf 431.53 KB
TAL - pdf 279.97 KB
Tanngo and The Paraplanner Hub - pdf 221.6 KB
Tax and Super Australia - pdf 92.89 KB
The Advisers Association - pdf 176.31 KB
The Conexus Institute - pdf 435.86 KB
The Principals Community - pdf 501.59 KB
Trevor O’Callagh - pdf 448.75 KB
Tribeca Financial - pdf 572.73 KB
UniSuper - pdf 411.19 KB
Vanguard - pdf 428.87 KB
Verse Wealth - pdf 458 KB