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General advice and personal advice is so similar that most people would not be able to tell the difference. Ive said it before but General Advice in person at point of sale needs to be banned. It is used by sales reps at superfunds/insurance companies to get out of the best interests duty and provide unregulated advice with no client protections. GA should be limited to print and after point of sale only. The sales reps with 2 hours training are able to do pretty much what advisers with 20 years experience do (just without any client protections), and ASIC thinks there is no need for them to be forced to act in clients best interests. What a joke.

That being said. After years of doing things properly under full advice i have started doing everything under general advice. The banks/super funds and insurers are have been doing it and getting away with it so why shouldnt i be able to do the same. The outcome for the client is exactly the same but i dont have to waste my time with the compliance rubbish.

Oh, and i also dont have to bother with this FASEA cash grab by the universities.

Come on advisers. Join me and do what the big players have been doing. You will have 35 extra hours a week to help clients with their finances, or better yet go to the beach or play with your kids.