Why don't you also add that when ASIC decided to introduce their levy on Licensees to prosecute all of us,a figure based upon numbers in the industry was pulled out of a hat. (around $1100 p.a. per adviser) .Due to the 2019 exodus of advisers so far, ASIC now finds it necessary one year later to increase their levy in 2020 by 25.0%.It gives a new meaning to CPI increases !
I don't believe it's to prosecute more advisers but more to build a future "war chest".
Call me cynical but if the numbers continue to fall in the financial services profession, do you think the ASIC levy will rise ?It's a rhetorical question and all I can say is ....."Good luck to the last man or woman standing"
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