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LNP via LIF & FARSEA Killed Advice & Advisers, especially Risk Advisers.
LNP via Frydenberg did this.
And now it's LNP Waffle and Lies about maybe fixing something the LNP totally stuffed up.
As for fixing the HOT Mess, Jonesy and the ALP have proven equally as useless.
Canberra Pollies & Bureaucrats ALL Need to be drained from the SWAMP.

Why do you need to chase clients for your Annual Fee Forms? Aren't you meeting with them at least once a year? If not, why are you charging them, expecially if you are using SMAs or MDAs?

My gym membership is $12 a week. I charge my clients $120 a week. Not sure if they are comparable.

Maybe have a read of this recent (2022) peer-reviewed article on exactly this topic and why mandatory internships can be a problem for Australian financial planning students: files.eric.ed.gov/fulltext/EJ1373529.pdf

I'm sorry, but if we are relying on Gus to fix our problems, then have an another look at the problem.. Anyone who watches Gus in question time, or sees him on the ABC, where he can be pinned down to a certain extent on the facts, will know that he is about as slippery as a spot of mercury on a plate glass window, carried by four Nubian giants.His footwork and tricky passing really means he should be playing in the Wallabies backline, without any tackling.He will say what he has to say, to keep advisers happy until after the election.Then the detail of the issueswill swamp him.

Anyone who thinks Gus will do anything to improve the viability of life risk in Australia better be prepared to wait at least five years, or the next election after this one

I also saw recent comment from Gus where he seemed to think that former treasurer Frydenberg the did an excellent job for the financial advice industry. He seemed to be saying there had been many improvements at Josh's direction. Josh was the same chap who told someone from the AFA that he was in the business of outdoing Bill Shorten because he didn't want Bill Shorten to be able to change anything should he be elected to government in 2019 which might just favour the industry funds

So he wants our vote without committing to anything. No wonder the crossbench keeps growing.

Yes, minister.

They will expand the un-'qualifed' advisers to insurance companies, which was frydenberg's plan all along via his plant - Levy . That's all they will do. They don't give a stuff about us. 

Someone needs to remind Senator Bragg about the brilliance of LIF.

Could someone confirm the following:
1. Is there an election coming up?
2. Wasn't it the Coalition which promoted & implemented LIF, which was primarily responsible for the demise of the industry & worsening underinsurance.
3. The likelihood of the coalition, if elected, taking quick action to remedy the situation is zero. 

The fact our profession is dying at a slower rate when everything else, population, alternative professions, bloated compliance and legal regulators increase is nothing to celebrate. National disgrace and embarrassment

Are you satisfied yet jones asic Industy funds? When will you stop killing our profession?

Repeal LIF

Our decision-makers already knew this. It's just that they have contempt for us, advisers.

So, they know what the problem is and acknowledge that......but they aren't going to fix it. Whilst at the same time stating that something has to be done to fix it, but we can rule out the solution as the option. 

I asked ChatGPT to summarise this:
Angus Taylor, the shadow treasurer, noted the decline in life insurance coverage in Australia and emphasized that reforms should focus on making insurance affordable, accessible, and advisable. He suggested that commission restrictions may be contributing to under-insurance but did not commit to reversing the regulations.

I think chat GPT it's being generous given: "he said there’s “no doubt” that commission levels have contributed heavily to under insurance."

Glad to see the penny is finally dropping regarding previous reforms not having the desired outcome. The majority of Australians' insurance cover is limited to default cover within their super fund (if they're lucky), and many haven’t looked at what they're actually covered for until they need to make a claim.

The cancellation of cover for accounts deemed to be 'inactive' for 16 months only adds to the underinsurance problem in Australia. How many people have unknowingly lost coverage they believed they had in a previous fund due to changing employers or failing to update their contact details? This is a statistic we’ll unlikely ever hear about.

Australia should have taken note of the consequences of reducing renumeration incentives from the UK – who have since reverted to higher commissions to incentivise insurance advice. Unfortunately, our decision makers seem to be lacking in forward-thinking and practical experience when introducing such kneejerk reforms.

umm... which government was it that implemented the LIF?
and now they're telling us that that was the wrong decision, and that we should vote them back in to fix their mistakes?

How good is the fact that education now reflects 10 years in the industry.... no subjects at Uni will give this level of professionalism... common sense did prevail after many years of arguing

id like to believe they will raise commission rates but we have heard this all before and absolutely nothing happens when they get elected. look at 4 years under Labor still no short form SOA