What the new government means for the advice industry

On a new episode of the ifa Show, host Neil Griffiths is joined by executive director of the Association of Independently Owned Financial Professionals (AIOFP), Peter Johnston. Peter joined the podcast to talk about the federal election aftermath, what the change of government will mean for the advice industry, and what the priorities are. "Well, the first thing that needs to be fixed is this cliff facing about up to 3,000 risk advisers," he said. "And these people, if they don't pass it by 1 September, they're actually kicked out of the industry, which would be a tragedy. "The second thing we need is to get this compliance regime fixed. Minimum 50 per cent of these need to be wiped out." On this episode, Neil and Peter also discuss shadow financial services minister Stephen Jones' previous comments about immediate action on changes to education standards and what the industry can do to work alongside government to enact positive change.