Insignia Financial

The 16,000 advisers providing full-service, holistic advice aren’t the ones who can plug the advice gap, Mota explained. Levy’s plan, however, has the potential to facilitate a “quantum shift” in the industry.

Levy made no major deviations in her final suite of proposals, with Treasury left to mull on a blueprint for reform that should usher in a less prescriptive, two-tiered advice regime. But there are a few tweaks that might raise eyebrows.