Speaking to a financial planner is good advice for those people who already have a flexible ongoing service agreement in place with a planner. But it's a total waste of time for those that don't. The regulatory driven costs and complexities associated with onboarding a new client would defeat the purpose of it.
The government is trying to impose even more regulatory cost and complexity on advisers, which will severely impact their ability to provide the sort of flexible ongoing service arrangements which have proven so beneficial to consumers in the current circumstances. Jane Hume said yesterday there would be no let up or reconsideration of this regulatory onslaught, in spite of the obvious negative impact it has on consumers. It seems that the government's adviser persecution agenda overrides all other considerations.
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