Mills Oakley Lawyers has recruited financial services lawyer Sean Graham to its financial services practice.
Grahamis the former executive director of advice and advocacy at Millennium3 Financial Services and has spent the past 16 years as a financial services lawyer specialising in advice, distribution, compliance and regulation issues.
Announcing the appointment, Mark Bland, a partner in the group, said: “Sean’s 16-plus years’ experience as a financial services lawyer specialising in advice, distribution, compliance and regulation issues will add significant expertise to Mills Oakley at a time of major change for the wealth management sector.”
“The introduction of the Future of Financial Advice (FoFA) and Stronger Super reforms will have a major impact on both the provision of financial advice and the way super funds engage with their members,” said Bland, adding that the FoFA reforms fundamentally affect how advisers can be paid and create a new paradigm in the advice process with the implementation of the ‘best interests’ test.
“Behind the visible FoFA changes sit significant changes to key relationships in the financial services industry, from the relationship between product issuers and dealer groups, to the relationship between dealer groups and their representatives, and ultimately the relationship of these industry participants with ASIC,” said Bland.