Consultation period: 21 March to 2 May 2025

Draft legislation delivering the next tranche of the Government’s financial advice reforms has been released for consultation.

These measures:

  • replace the statement of advice with a more fit-for-purpose client advice record

  • provide clear rules on what advice topics can be collectively charged for via superannuation

  • allow superannuation funds to provide targeted prompts to members to drive greater engagement with superannuation at key life stages

The government invites feedback to ensure that the reforms deliver on their objectives and operate effectively across all parts of the financial advice industry. Consultation closes on 2 May 2025.

Key documents