Business
Financial services minister Jane Hume announces Treasury to review financial advice – The Australian Financial Review
The government will depart from Kenneth Hayne’s edict by expanding the scope of its inquiry to include a commercial focus on the accessibility of financial advice…
Consumers should, wherever possible, have access to high-quality advice.
The announcement follows a push by the financial services industry to wind back some of the regulatory requirements it claims have pushed up the price of financial advice by almost 30 per cent in just two years.
The latest figures show a diminishing supply of professional advice, with the number of licensed individuals expected to fall to 13,000 by 2023 50 per cent fewer than before the royal commission.
Paperwork is not protection
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