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Michael Styles B.com; MBA.
It appears that ASIC are out for accountants in the SMSF space. Alot of ASIC staff are employed on a rotational basis between the banks and the investment houses. I wonder if those staff are required to declare their conflict of interest? I have worked in accounting and taxation for years and rarely, if ever met an accountant that does not have the best interest of the client in mind when providing their services. Accountants are on average far more qualified (i.e. have a university qualification) than most financial planners. All my career i have seen dodgy, unprofessional, almost criminal at times advice from financial planners. I never see ASIC on a mission to stop these dodgy planners. They often appear to act with immunity. Perhaps ASIC staff are too close to the banking industry to actually concern themselves with the systemic pillage of the public by so called financial planners