Risk advisers fall in the category of "those giving advice in a narrow range of areas".
There should be one set of rules for everyone operating in the financial services indusry. With the same base eductional requirements (plus specalised subjects for each area). There should be one set of rules for all (eg best interest and statements of advice) with General Advice sales representatives subject to the same rules as everyone else.
As we all know, pretty much all of the problems in the insurance industry uncovered by the royal commission were related to General Advice for insurance.
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Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional