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Thanks for your reply Max, however my query regarding "risk advisers" was not in reference to commissions (which I have no problem with), but in reference to them fulfilling their Best Interest Duty in practice, especially in their ability to "take any other step that, at the time the advice is provided, would reasonably be regarded as being in the best interests of the client, given the client's relevant circumstances".

Let me give a hypothetical example. A client with 3 Industry Super funds, each with some insurance visits a Risk Adviser. They are advised to replace (and enhance) their existing insurace with a number of retail policies, which they do. But they still have three Super funds when almost certainly, owning just one would be in their best interest. In this hypothetical example, without providing Superannuation advice, I can't see how the adviser has met their FOFA obligation to "take any other step ...".

Without making this reply too long, there are other potential concerns as well. How can the affordibility of insurance be demonstrated without long term cashflow modelling? How can the ownership of some insurances be correctly structured without consideration of their Superannuation? How can strategies be put in place to mitigate the erosion of retirement savings from insurance premiums without providing Superannuation advice?

It just seems to me that any advice that is not wholistic would fall short of the "take any other step ..." requirement of FOFA.