Well, there are a few problems with what you have written there Ken.1. Intra fund advice does not refer to the "funding mechanism". The ASIC definition is 'types of advice that a super Trustee can give to members of the fund (where) the cost of advice is borne by all members of the fund'.2. So it's ok for an ISN Fund like Hostplus and so on to clip off a few bucks under the admin fee and not do any advice for most members - ever - but this is not ok for Advisers or anyone else to do that? Not a level playing field then is it? Didn't we just go through all that pain in the RC?3. Based on your analysis, if it is only $1 per year, then a Member should be able to get an SOA for that price. That right? No it's not is it? Their current model only works if everyone pays and some get service. The Industry Funds cannot service all their members. That's a problem.
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