Reimagining financial advice: Breaking down the Actuaries Institute's HGA framework

In the latest episode of The ifa Show, Andrew Gale and Stephen Huppert from the Actuaries Institute's Help, Guidance and Advice Working Group joins host Keith Ford to take a deep dive into the recently released framework to address the complexities of financial advice in Australia, focusing on creating clearer pathways for consumers to access financial support. Andrew and Stephen explain that the current system leaves approximately 60 per cent of Australians without adequate financial support, while the HGA framework aims to bridge this gap by providing a more flexible approach that allows for different levels of support, from basic information to comprehensive personalised advice, while maintaining clear regulatory boundaries. Tune in to hear: •    The challenges facing the provision of financial advice and how the framework aims to solve them. •    Why clearer boundaries between different levels of financial support are vital to improve client outcomes. •    How the still unfinished Delivering Better Financial Outcomes reforms can provide some positive results.