Why bother with this rubbish FASEA crap. You are way better off providing unlicensed SMSF and insurance advice and charging a fee. ASIC can’t touch you and the last guy who got in any trouble for providing SMSF advice without a license was fined $10k.
It’s almost amusing that they think they can pile on all these fees, coupled with extra compliance and education whilst at the same time remove Insurance commissions and fees for advice from super and expect us all to just suck it up and go back to uni to learn nothing.
All the experienced advisers are going to quit the industry and the product providers are going to have to sell their products under general advice with no client protections.
There is going to be another royal commission to fix the mess left due the absence of personal advice in under 10 years.
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