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"provide no service"....really Brett H ?
What's your average annual Fee for Service dollar amount Brett ?
Would someone with an account of say $100,000 or $150,000 and with a ASF of .44% p.a. make it into your business as a client ?
If the answer is no, then that has just eliminated a massive number of consumers from receiving either ad hoc, general or personal advice that is very often provided to these clients by advisers who are remunerated via grandfathered commissions.
They will be cast aside and forgotten and the direction of their financial advice will not be in their best interest.