When an industry full of Gen X and Baby Boomer advisers is assigned the task of training swathes of largely millennial acolytes, there’s bound to be a few bones of contention according to Brisbane adviser Jaxon King.
Advisers are rallying around the prospect of upfront advice fees becoming tax deductible after the ATO announced a review of Tax Determination 95/60.
The release of Michelle Levy’s preliminary advice review recommendations topped this year’s most read stories, yet the proliferation of well-read articles that carried an investment theme highlighted the interest of advisers in finding content evaluating what has been a choppy year in markets.
With the mass exodus of advisers reaching its nadir, advisers are taking on more and more clients. Dunbar’s theory shows just how unsustainable this is.
The inability of major casino operators – and many other ‘respected’ professions – to run a clean sheet is galling for an advice industry beset with stifling levels of regulation.
The question, in my view, isn’t what is affordable. It’s this: what price should we be willing to pay for long-term financial security?