The Financial Services Council has released research containing recommended changes to the current financial advice model it is looking to use as the catalyst for a policy debate on the issue.

Australians may be able to claim a tax deduction for the cost of receiving financial advice in the future, a member of parliament has said.

Assistant Minister for Superannuation, Financial Services and Financial Technology Jane Hume believes there is much to be optimistic about when assessing the future of the financial advice industry.

How the value of advice is defined should be one of the legacies arising from the coronavirus pandemic, the head of an industry body has said.