AMP welcomes the decision by ASIC to give the advice industry a degree of regulatory relief to assist advisers in providing timely advice during the COVID-19 pandemic.

We’re pleased the regulator is taking practical steps to support Australians in their time of need. Advice will be critical for many as they weigh up really important financial decisions. 

One of the main areas our clients are looking for information on is early release of super.  We see our role as helping clients make the best decision for them. 

We unequivocally support the government’s measures to help those in hardship, however accessing super early will have an impact on retirement, so it’s important everyone carefully considers all options before making the decision. 

 As we emerge from COVID-19, industry, government and regulators should come together to design an advice model for the future, which ensures affordable and accessible advice for all Australians.