The end of the calendar year 2019 approaches and despite fears and concerns around the world economies, markets have generally continued to provide decent returns. Low interest rates have been a major contributor.
In the world of FB Wealth Management, we have spent a considerable amount of time and resources adapting to an increasing compliance burden, having come to the grim realisation that this is the world in which we now live.
We are all greatly looking forward to sitting for the industry exam. Financial advisers have until 1 January 2021 to successfully complete the test (at $594 per attempt). If we fail, we can no longer advise.
Like a true leader, Rob is leading the change and will be the first to sit the test, in December. This also gives him a chance to sit a few more times if he just happens to fail!
We are also still awaiting confirmation from the newly established Financial Adviser Standards and Ethics Authority (FASEA), which has chosen to ignore older university and post-graduate qualifications and past professional development, in the belief that anyone over the age of 35 was incompetent and lacking ethics.
We hope that the Government will re-examine the current bureaucracy, as much of it overlays and duplicates. Importantly it impacts in how we can assist you in a meaningful way.
Hopefully 2020 will see much of these changes either bedded down or eliminated. Rob actually wrote a submission to Prime Minister Morrison, in response to his pledge to reduce red tape.
Over the Christmas break we will forget about red tape, think about red Santa suits and look forward to seeing everyone again in the New Year.
From FB Wealth Management, we thank everyone for their continued support and hope you have a very Merry Christmas and Happy New year.
Our office will be closed for the festive season from 12noon on Friday 20 December and will re-open at 8.30am on Monday 6 January 2020.
If you have an urgent enquiry during this period, please email your Adviser who will be checking emails intermittently.