The lesson we can take from “making advisers complete Masters Degrees” is to not exaggerate because it erodes credibility.

Trying to compete with the big political donations of Super Funds is never going to work….but taking a lead from their book we can learn that the odd paid junket to an ASIC official never hurts too.

What lessons can we take from Treasury, where they spend two years and come up with a cut SOA and paste in CAR, as the solution to increase access to advice…clearly they don’t want Australians getting advice from Advisers but Super Funds. What lessons can we take from making advisers complete Masters Degrees then they allow Backpackers to become “Qualified Advisers”.

Merely relying on politicians to do the right thing for Australians won’t work.(see above). We just can’t compete with Super Fund money and we certainly don’t have any political bargaining power because the number of Advisers at 15,000 has been strategically cut.

My thoughts exactly and I’m sure many marginal advisors either due to their age or their worn out will be running the numbers on exiting. Nothing is going to get better!

This sordid stench which colours and taints everything will now be turbocharged.

Financial advice legislation heavily influenced by vested interests motivated by member retention and FUM control.

The next three years will no doubt be incredibly difficult for professional financial advisers, with the playing field likely to be heavily tilted toward collectively charged, super trustee dispensed “advice”.

I don’t know of any other profession that is subjected to the argubaly massive conflicts interest between legislators and product providers like is seen here in Australia.

The professional associations will need to perform a miracle to stop the steamroller which is coming.