Delivering Better Financial Outcomes Tranche 1 report released

Financial advice reforms are on the way, with Tranche 1 of the Delivering Better Financial Outcomes Bill. These reforms will provide simple relief for financial advisors, improving access to and affordability of advice.

Today, the Senate Economics Legislation Committee will release its report on the inquiry into the Delivering Better Financial Outcomes Bill 2024, highlighting widespread support for the proposed changes.

The Bill is a critical first step in our government’s response to the Quality Advice Review.

Key benefits of the reforms include:

• Removal of costly red tape,
• Streamlined practices, and
• Greater certainty for financial advisors.

These reforms on financial advice have been welcomed, and we look forward to Tranche 2 in the near future.

In addition to the financial advice reforms, the Bill also provides important support for producers and crew in the film and screen industries in Australia. Encouraging investment and growth of the industry on our shores.

 

Quotes attributable to Senator Walsh:

“It was clear to the committee that the Delivering Better Financial Outcomes Bill will increase access to and affordability of financial advice.”

“These reforms will provide more stable job opportunities for Australian screen industry workers and businesses.”

 

Media contact for Senator Walsh: Riley Geary – 0402 261 23