An approved degree doesn’t necessarily make for a better adviser, but if the government wants to get the experienced pathway legislation right it must disclose which pathway an adviser took to accreditation.
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.
Advice is set for a dramatic shift towards deregulation, with the Levy proposal paper sketching a plan to ditch statements of advice and best interest duty in favour of a new “good advice” directive.
Fewer people in Australia are likely to get financial advice in the wake of the Hayne Royal Commission – the inevitable consequence of implementing the final report’s wide-ranging recommendations.
