This demonstrates yet again the stupidity of ASIC. If a client comes to a licensed adviser for this advice they have to provide written advice which ticks off on all BID steps. As much as ASIC thinks this is a quick and easy process it takes significant time and in turn cost to the adviser. While ASIC thinks advisers should all work for free, the result is the client who is already financially struggling cannot afford to get the advice. ASIC you have created this problem, and writing a strongly word letter isn't going to fix this. You have failed all clients who now desperately need advice but won't get it due to the cost.
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