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Of course most financial advisers are paralysed with fear that ASIC might walk in and cite them for whatever ASIC might choose to cite them for and thus put them out of business. We are all second guessing ourselves constantly....."did I cover this?.....did I cover that?.....did I mention this?...did I mention that?". Advisers are flat out writing 80 page thesis' (i.e. Butt Covering Memo's) for simple advice that could be delivered meaningfully and affordably, often within max 10 pages. But alas, Public Servants and Lawyers got into the mix to complicate things (i.e. protecting consumers) and so now Advisers write copious documents consumers rarely read nor understand purely to protect Advisers from Litigation Junkies and in so doing rendering advice unaffordable to the masses the regulators say they are protecting.