In one fell swoop, the banks and AMP are getting what they tried to get under the Royal Commission - to get rid of those pesky advisers with real relationships who hold clients trust, and replace them with computer algorithms. After all, why wouldn't we trust AMP or the big banks? What could possibly go wrong with that model?

FYI of course we are all moving to use technology to make our processes more efficient. That's not digital 'advice'!

And bugger me, are you implying Michelle that we WANT the voluminous SOAs to continue? Its us planners that have been complaining for years about the volume of disclosures that make the document unreadable to the average client - but we were told it was ASIC who were insisting on it. Could AMP and the big banks have lied to us again? Surely not.