The FPA has to own the fact that failing to campaign against the Fed Govt's move to towards annual fees (where informed consent by the client has been given), whereas intrafund advisers are exempt from Opt In requirements (when informed consent has not been given], is resulting in a massive shortfall of new entrants into the Industry. It's simply too hard to get paid by the average mum & dad who are seeking advice. Fortunately not all representative adviser organisations are prepared to accept this. So get ready for an exodus from the FPA & AFA in July. Intelligent advisers will decline to outlay for ever increasing business overheads, while being pressured to work for free. Games up.
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