The whole FASEA model is unworkable !The legislation declaring previous grandfathered payments before 2013 now banned has managed to destroy a number of financial planning practices that purchased business on the prevailing multiple at that time based upon those grandfathered payments continuing.The whole process is a farce and will not achieve professionalism.There are plenty of older advisers with substantial education and experience who's contribution over the past 20- 30 years is no longer recognised under FASEA.
If anyone thinks that it's a viable practice to hire a graduate with the appropriate degree now required, to sit around for 12 months learning how to engage with clients but not actually doing so, learning to paraplan, ..... but can make coffees on $70K + super, well good luck with that !
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