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The issue is NOT that face to face advice is expensive and other channels are cheap. The issue is that any regulated advice is expensive because of OVER REGULATION. Face to face investment advice from accountants and mortgage brokers and real estate agents is actually quite cheap, because it is not regulated.

AMP's move from adviser to digital channels is primarily driven by a desire to escape regulation. They will rip consumers off even more than before, in an environment with less regulatory scrutiny.

Consumers would be best served if ALL advice channels had a reasonable and similar level of regulation.