The Australian Defence Force Financial Services Consumer Council is an expert and impartial entity that has three tasks:
1. Independent Financial Education
To offer, in consultation with appropriate regulators, independent, professional financial education (not personal advice) and relevant resource material to all ADF personnel, in order to assist them to make informed decisions and plans about their financial affairs, and empower them to improve their financial situation throughout their careers.
2. Advisers to the Chiefs
To act as an expert and independent advisory body to the Chiefs on consumer matters related to the financial services industry. For the purposes of this Charter, ‘financial services industry’ generally describes organisations that offer banking, insurance, lending, superannuation and investment products and services.
3. Relationship Managers
To develop, foster and maintain a professional and positive relationship with regulators, particularly Australian Securities and Investment Commission and the Australian Competition and Consumer Commission, relevant industry associations and participants in the financial services industry.
DAVID HURLEY AC DSC
Chief of the Defence Force
12 September 2011