Financial advisers have delivered a sceptical response to suggestions from the Government and the Australian Securities and Investments Commission (ASIC) that the cost of financial advice can be driven down via the increased use of technology and making access to scaled advice easier.
The suggestions, flowing from this week’s Financial Services Council (FSC) financial advice summit, were followed by strong calls from the Financial Planning Association for a pragmatic approach to reducing costs, including rolling the functions of the Financial Adviser Standards and Ethics Authority (FASEA) into the proposed new Financial Advice Single Disciplinary body.
A number of questions have been raised in the aftermath of the FSC summit prompting Money Management to survey its readers about their views on scaled advice and lower costs in the industry.
Please complete the survey here.
