Quantcast
au iconAU

 

 

Advice burdens and ‘minimal’ client benefit noted under AFCA

The new Australian Financial Complaints Authority is likely to provide little in terms of benefit to clients and just adds an extra burden to firms, according to one adviser.

Advice burdens and ‘minimal’ client benefit noted under AFCA
smsfadviser logo
Advice burdens and ‘minimal’ client benefit noted under AFCA

Speaking to ifa, EFS Strategic director Michael Rees-Evans said the replacement of the Financial Ombudsman Service, the Credit and Investments Ombudsman and the Superannuation Complaints Tribunal with AFCA would have “minimal client impact”.

Read more at the ifa.

Subscribe to Public Accountant

Receive the latest news, opinion and features directly to your inbox