Well a new form of qualified adviser?and he will be working for wages.I'll BET THE 15000 odd advisers working now will be the last to be able to charge a fee and build a business!!!!
That was how i saw the plan from several years ago.Quite frankly anyone who really know what they are doing could do better just looking after their own interests with out the worry of giving advice to others. My view is, the advice standard will go down the super funds wont want to give money away AND THE BANKS? bACK IN AROUND 1998 OR SO THE BANK S MADE STATEMENTS LIKE THEY WERE GOING TO TAKE OVER THE LIFE BUSINESS ETC. They bought into life companies and raped and pillaged , interested ONLY in the clients who had lump sums to address. They gave advice illeagaly over the counter through the tellers and their aledged financial advisers were drawn from internal ranks.DID THEM A LOT OF GOOD DIDN'T IT. JG