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Everyone has an opinion, and some people feel compelled to speak out. Share your views, opinions and insights with financial advisers accross Australia today. If you'd like to write a blog or to submit a letter to the editor please contact the editorial team on [email protected] or call 02 9922 3300.

Latest Comments

When will a professional association submit Cases before the Federal Court of Australia that opposes discrimination against financial advisers who have done nothing wrong and have never handled client funds?  The Legislated discrimination breaches 200-year-old English Common Law principles in procedural justice distributive equity.  The draftee of such discriminatory Legislation was probably Treasury which appears to have failed to do appropriate grounded research direct with professional associations and its adviser members, which then misled politicians. Commonwealth Law Reform Commission made up of Judges stated publicly that financial services Legislation is in a mess.  Invoicing financial adviser licensees which have already paid Professional Indemnity insurance premiums, have double overhead cost with 2017 ACT for ASIC's financial adviser levies and triple cost soon with CSLR, which breaches Common Law distributive fairness. Federal Court case would require the Government to submit its evidence and reasons, then the Judge can make a decision to set aside unfair Legislation?  (Robodebt revisited) For example, Justice Michael Lee handed down a 300 page finding in a Defamation Case last Monday and FAAA can also claim that Politician's Legislation had defamed financial advisers, by breaching Common Law and financial advisers should be awarded refunds of all levies to date since 2018.  In comparison to SEC in USA precedence, in 2033 it processed 780 prosecutions, imposed US$5 billion in compensations and penalties but not US$1 levy on retail financial advisers who did nothing wrong. How many financial advisers would stand up as expert witnesses in the Federal Court to declare that (1) Government Legislation (and ASIC also) failed to advantage their financial advisory business and (2) the impost of levy effects feels like discrimination and defamation unfairly?

‘Really angry’: FAAA slams CSLR process

3 days ago.
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News
It doesn't seem fair that advisors will be forced to pay for the legacy left behind by Dixon who walk away unscathed.
But they will.

It doesn't seem fair that Australian voters are forced to pay for the errors of all and any previous government ministers, who walk away unscathed with lifetime pensions. 
But they will.

It doesn't seem fair that Victorian citizens are saddled with billion dollar debts by incompetent state government parliamentarians who walk away unscathed with lifetime pensions.
But they will.  

It doesn't seem fair that hard working, caring, tax paying, small business, financial advisors are led by the nose to extinction by an incompetent, government paid nincompoop, who walks away unscathed. 
But they will. 

If you don't think it's fair, then you have allowed this to happen and have no-one to blame other than yourselves. Successive governments have stripped away your right to run a profitable business and earn a fair income. Incompetent ministers from Labor and Liberal have removed your rights and dismantled the financial services industry to the point where it is becoming unworkable, unprofitable, unreliable, and unsustainable. Your industry representatives have let you down something shocking over the years, to the point where you have to seriously wonder if it's worth doing! This (current) government hasn't finished with you yet. They still need the industry funds to take full control.
But they will.   

If you don't think it's fair, then it's best to sell up while you can still get some value for what's left of your business. Financial advice has been made to be something evil by the Hayne RC and governments haven't helped to reverse that. In fact, they have sided, saying they are protecting the public. Imbecile Jones expressed just that! People don't value what they don't pay for, and they won't value it until it is too late.
But they will.

‘Really angry’: FAAA slams CSLR process

3 days ago.
|
News