Labor victory will reinforce planner exit decisions

The election of a Labor Government on 18 May will not significantly increase the number of financial planners intending to leave the industry.

A survey conducted by Money Management has, in fact, revealed that far more planners are now signalling their intention to remain in the industry than leave, with most believing that the election of a Shorten Labor Government will not significantly alter their situation.

However, for those planners who were already intending to leave the industry because of the requirements of the Financial Adviser Standards and Ethics Authority regime and an end to grandfathering, the likelihood of a change of Government has served to reinforce their decision.

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The survey revealed that it was those planners who had already decided to leave the industry who were most concerned about a change of Government, while those who were choosing to remain were largely unconcerned.

A significant number of respondents said that a change of Government would make little or no difference to their situation.

Interestingly, when weighed against the results of adviser intention surveys conducted by Money Management earlier this year, the latest survey suggests that a number of planners have already exited the industry.

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If Shorten is PM I'd want to leave the country, not just the industry.

Shorten - Short On:
management skills,
budgeting ability,
sound feasible policies,
a scientific knowledge to realize that action to fix "Climate Change" is a great scam benefiting Gore and his ilk, and lots of others outside Australia,
the knowledge to engineer energy generation, for 24 hours per day output,
a regard for commerce,
and respect for the financial sacrifices made by self funded retirees made over their lifetimes..

There will be lots more work for Financial Planners if he gets power because we will have to find ways to replace money stripped out of Client's Super, and to make up for the loss of selected negative gearing applications. We will even have to console clients whose homes will be devalued or whose rents will increase!

Please stay. The country must surely collapse should you leave the country.

Thank you so much for your concern. Unfortunately, I have debts to pay, people who depend on me, and I can't leave.

Maybe we could do a one for one deal where B Real stays and you leave Hedware ?

What! Miss out on your amusing offerings? No way.

I was suggesting you stay.

The Trade Unions are waiting like an excited cat in a cage.
Waiting for the benefits that will flow their way from the industry super funds once Bill allows the floodgates to open.
Bill sees the industry super funds as a war chest to strengthen the trade union movement and their Labor associated entities and not only will the Directors be allowed to continue diverting their fees to Trade Unions , but it would not be out of the question that Bill opens up more access and control to his comrades.
The AIST will be equally uncontrollable with anticipation.
But then again, Bill may well lose the fight.

its always been clear that Labor has no care or regard to Financial Services, though Libs attempt to water down FOFA was flogging a dead horse and didn't help. Even If Libs win, Labor will pile on the pressure anyway, however the Libs will at least avoid some of the most extreme measures. Worryingly, Labor have said they will allow double jeopardy on financial complaints, in that even if a matter has been settled years before, if a client thinks they didn't get enough or have wider issues that can come back regardless of any settlement release that was signed.

Bill's communist ideology is so far out of whack with the ethos of the Australian way of having a go and achieving something for yourself, your family and your community.
Capitalism is not evil Bill, but stabbing your fellow colleagues in the back, not once but twice, when you told them you would support them and solely for your own rise to power and glory is a clear sign of a narcissistic megalomaniac at work.

Just a query.

How much sway do people think a labour government will have over ASIC's decision on insurance commissions?

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