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Tony, I understand your comments, but I do not see education as the main issue. It is compliance and the additional cost that will be passed on to the client. Sure, their will be less Advisers I totally agree. the demand for advice will still be there if not increase I agree. The cost to serve will be increasing and to assume that once your meet the new education standards life will be clear sailing from there is missing the point - ASIC is out to regulate Advisers out of business via Education, via BID, via limiting fees from Super, via BID and BID will turn into an exercise on how much you can actually charge the client in their best interest. I suspect it will not stop - never has. But I like your optimism and hope you are right. If you have studied Economics you would know that the biggest threat is regulation.