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The Lawyers of the Royal Commission plus the Federal Government have now effectively rendered Financial Advice affordable only to the wealthy. They have forced Financial Advice to become so complex and costly because to comply with all the regulations and to protect themselves from the malicious scrutiny of ASIC, APRA, Compliance people, and vexatious, litigious Lawyers, Financial Advisers must now produce voluminous, costly, time consuming 50 page BCM's i.e. "Butt Covering Memo's" (AKA SoA's) for simple advice just to legally protect themselves, when the reality is much scoped advice could be delivered effectively via something much simpler. As has been occurring already, now watch how many more highly knowledgeable experienced advisers aged 45+ who don't have a "Relevant Degree" head for the exits by end 2025.