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Everyone is disadvantaged by FASEA other than the universtites providing the courses and the financial institutions who will benefit from the removal of advisers enhancing their ability to seel their junk direct to the public without having to satisfy the best interests duty.l

*Doing an ethics course does not make someone ethical.

Older advisers who have been doing thier job for 10+ years have nothing to learn from going back to uni and will retire which will result in a shortage of advisers, driving up the cost of advoice and pushing even more clients to the unregulated and poorly trained sales sharks at the wealth/insurance companies operating under general advice.

If you ask anyone who they would rather be dealing with, a high achieving university graduate with the bachelor orcfinancial planning with one years experience, or an older adviser with 15 years experience and an internationally recognised qualification (CFP).

Once again (just like with LIF) it will be the clients who lose when they find they have no avenue for recourse when their investments/insurances turn pear shaped because the government removed their access to financial advice.