The Albanese government will scrap onerous paperwork for superannuation funds and financial planners to boost access to affordable advice, but is not convinced the big banks can be trusted to help millions of Australians transition to retirement.
The government has accepted 14 of the 22 recommendations made by the Quality of Advice Review, chaired by Allens partner Michelle Levy, Assistant Treasurer Stephen Jones will announce on Tuesday.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
