The Albanese government will try to avert a semantic storm over the use of the term “qualified advisers” to describe a new class of financial planner by replacing the words with “product adviser”.
More than 5 million Australians are at, or approaching, retirement but the number of financial advisers in operation has fallen dramatically since the banking royal commission and the introduction of tougher educational requirements for full service financial advice.
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Joanna Mather joined the AFR as an education reporter in 2008. She spent four years in the Canberra press gallery before becoming superannuation reporter in 2016, deputy news director in 2021 and wealth editor in 2023. Connect with Joanna on Twitter. Email Joanna at jmather@afr.com
