Aware Super welcomes progress on expanding the availability of financial advice, with the Federal government announcing specifications for a new class of adviser.

The government’s announcement on the details of the new class of adviser provides clarity on a key element of the second stage of the Delivering Better Financial Outcomes package.

Aware Super CEO Deanne Stewart said the new adviser model was an important part of financial advice reforms, which will be critical in ensuring more Australians have access to quality, affordable financial advice.

“We know that when our members get help and advice, they feel more confident and are much more likely to take action that improves their retirement outcomes. 

“Introducing a new class of adviser, backed by a strong consumer protection framework, will unlock the ability for superannuation funds and other providers to deliver the help and guidance Australians need to confidently navigate their retirement.

“Advice reforms are crucial to uplifting retirement outcomes for Australians and we urge the Government to prioritise progressing these changes.”

Ms Stewart said she looked forward to working constructively with the government and industry as the reforms progress.

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