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"...they are expecting some advice on the performance and investments of the fund" send them to a qualified financial adviser...I understand that you are one but for those that aren't there will be a very uneven playing field. On one hand an Accountant can give verbal advice to "just buy these 10 blue chips" with no Best Interest Duty to protect the client and on the other hand a Financial Adviser has to provide written advice and demonstrate they have met the Best Interest Duty. There will be a flood of financial advisers electing to do the extra study required to get the Accountant expemtion if this gets up...