It’s nice to see another side to the people you work with. It may not be out of a suit and into leathers for most people, but our feature this week focuses on financial services industry professionals who undertake the annual Corners for Kids charity motorcycle rally. For four days the professionals assume alternative personas under which the topics of conversation involve the bikes, the ride and things other than their 9-5 business. It’s good to have a breather from the day-to-day business we are all consumed with.
We navel gaze about issues such as Simpler Super and will more people seek financial advice or will the need be eradicated. From anecdotal evidence, there has been no reduction in the numbers of those seeking financial advice. In fact, the question that most people ask of financial planning, according to Sydney Morning Herald journalist John Collett is “can you recommend a good financial planner”. This year’s federal budget has been delivered by Treasurer Peter Costello and, unlike last year, there is no immediate windfall for financial services. However, a benefit exists for the future. Costello called the budget “a strong step into the future”.
“It’s an education budget. There are huge reforms and I want them around a long time I’ve after left the political scene,” he said. From next year, schools that make significant improvements in literacy and numeracy standards will be rewarded. Teachers who attend summer school courses in their own time will receive a $5000 bonus from the Government on successful completion. Hopefully, some of these will be funded by the $2 million granted to the Financial Literacy Foundation for professional development. For our industry, this is certainly a positive step into the future. It’s somewhat outside our day-to-day business, but it will eventually impact on us all.
