Is the way to facilitate affordable financial advice to all Australians?
What this achieves is to further increase the cost of financial advice, so only the wealthy can access financial advice.
Most of the losses are caused by product providers, however financial advisers seem to be targeted under this scheme. CSLR should be broken down into subsectors and the levy should be limited to our sector on its own. Product providers should fund their own CSLR scheme as they cause the most claims that are unfunded.