Hi William, in relation to your comment: "“It is an odd situation, whereby in many instances across small licensees, the financial adviser is also the licensee owner, compliance manager and in charge of client complaints. A few conflicts one might say.”...I ask you how is this any different to any other professionals who are all individually licensed or accredited? Are you saying financial advisers are the only profession that needs an in between licensee to function? Also, in response, all these self-licensed advisers must belong to a complaints resolution scheme to assist and ultimately handle the outcome of consumer complaints. The first point of call for the consumer, should always be to resolve the issue if possible with the adviser. secondly a self-licenced advicer should be able to be their own compliance manager, it doesn't mean that they don't employ the outside services of an independent compliance specialist or a specialist lawyer. Your comments are unnecessarily harmful to the advancement of a profession. I believe all planners should be self-licenced eventually, not unlike every other profession. I ask you to name one other profession that requires the subcontracting of another unrelated party in between their practice and the direct license or accreditation of the authorities.