If ASIC is seriously concerned about "Issues with fees for no service when advice providers offer an upfront consolidation service, then charge an ongoing asset-based fee with no further service", then they need to take action against most union (aka "Industry") super funds.
Union funds constantly badger clients about super consolidation in their websites and client statements. And they charge all members an asset based "intra fund advice fee" which 99% of people never get any service for. It is the biggest fee for no service scam in Australian superannuation.
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