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Instead of the Govt tearing Corporate Superannuation from the adviser and attempting to nationalise and dumb down the whole process via MySuper, why not allow employers to be able to fund superannuation seminars and presentations by experienced advisers for their employees as part of a nationwide superannuation program and allow the expense of the program to either be subsidised or be tax deductible to the employer.
Secondly, financial advice at a personal level should also be a deductible expense to the individual which may serve as an additional incentive to seeking advice.
The vast majority of Australians are reasonably lethargic and seemingly confused about when or how to access advice, but the problem starts when they are young and it is imperative that financial concepts regarding investment, insurance,superannuation and retirement are clearly explained at a school based level.
When respondents disclose they believe advice is expensive, they need to consider " compared to what " ?
If it's compared to the $6000 a year someone may spend on cigarettes, gambling, alcohol or fast food then unfortunately, those individuals will virtually never make an attempt to seek advice and guidance to enhance their position in retirement. It's a simple equation of education,priorities and responsibility.