To consumers all advice is personal - doesnt matter where or how it is delivered all consumers relate whatever is communicated to their personal situation.Many of the ongoing deep issues in advice relate to ASICs attempt to stretch and interpret what was laid down at the turn of the century in the FSR Act which was a response to the issues that emerged in the 1990s. FOFA + FASEA + Hayne laid down the beginnings of advice as a professional services business. However the whole issue of how non advised help with personal finance or advice for everyone remains an open issue. Needs a legislative response cause ASIC cant contort the FSR ACT - advice is an investment product recommendation to a useful end for not-advised help.
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