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I totally agree with this article. Due to the high time and labour cost of all the regulations (i.e. Opt In, etc) we reviewed our business operations and found the old adage true that 80% of your income is generated by 20% of your clients. So we effectively "sacked" 80% of our low income generating clients who cost more to service than they returned, and we now focus on the top 20%. We of course remain fully available to serve the "Sacked 80%" on a Fee for Service basis if and when they need us but we no longer provide them with ongoing monitoring, service and advice as they previously knew it. This has freed up time and resources to better serve the clients who generate appropriately to our business viability. Non-viable clients are simply no longer serviced unless they pay for that service as we are a business, not a charity. The commercial reality is that we must sadly leave behind the "Battlers" who need us most or else risk becoming battlers ourselves. Good Job Commissioner Hayne, ASIC and APRA. Your overreach has caused the major banks to exit the wealth industry and many financial firms to collapse or simply shut down and experienced quality advisers to "down tools" predominantly due to the marginal viability and increasing "Paralysis by Regulation" in both Finance and Financial Planning where more time is spent filling out forms to satisfy Australia's new "Growth Industry" (Compliance) than is spent actually serving clients. This ensures that quality highly educated financial advice will only be available to those with capacity and willingness to pay.........i.e. the top 20%. The remaining 80%.......good luck to you all. We have seen many clients with $1M+ held in industry super funds who pay 0.6% - 0.8% ($6K - $8K p.a.) in fees but yet receive no advice at all. The system has issues.