Aon Advice managing director Pierre Kraft and Australian Financial Services managing director Peter Daly were appointed co-chairs of the working group last week.
Kraft and Daly said there was a lot at stake with the proposed reforms and it was critical that Treasury understood the nuances of the market and at the same time that government and the industry took a commonsense approach to proposed reforms.
AFA chief executive Richard Klipin said Kraft and Daly would be joined by other working group members who represented a wide cross-section of the AFA's membership of advisers and licensees as well as specialist consultants.
Members include Alexis Compliance Risk Solutions' Christina Kalantzis, Millennium3's Sean Graham, Pivotal's Maria Cheers, Knight Management's Stephen Knight, the AFA's Jim Taggart, Professional Investment Services' Mark Stubbings, Strategy Steps' Jennifer Brookhouse and CommInsure's Karen Davies.
Klipin said five sub-committees had also been formed to develop well-constructed and informed policy positions on remuneration, fiduciary duty, intra-fund advice, volume-related payments and insurance.
"We believe the working group will lead the way in informing the government on the real impact of reform on consumers, advisers, the financial advice industry and on Australia as a whole," he said.
