I'm glad I will be ready to retire from this profession in about 10 years. That's about how long it will take for the government of the day to realise that they have swung the pendulum way too far back the other way and the advice industry is back in ethical turmoil and bad advice is rampant. Maybe a little bit longer than 10 years, by the time they take 4-5 years to implement everything, but definitely within 15 years.
Vertical integration, non or under-qualified people giving advice, sales targets set by banks and super funds, leading to flogging products rather than giving advice. Then someone will wake up and say, "Oh maybe we shouldn't have completely unwound the Royal Commission. Lets have another one to try and see why there are all these problems".
It's a pity that politicians rarely listen to the people doing the job well to set the rules for how to do the job well. Apart from a few minor admin fixes, that will have virtually no impact on our business, the QAR looks like another opportunity missed. And it wasn't rocket science to get it right. Pretty disappointing really.