The risk advice sector has been absolutely gutted, there's no other word for it.

No thanks to the government, ASIC, the product manufacturers, the banks, industry funds sector and of course Mr. Hayne and his botched enquiry.

What a sad and sorry legacy, glad I retired when I did a few years ago.

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You are 100% correct in you assessment Alan.

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Yep, I endorse both comments above. Risk industry will have majority, 90%+, of advisers fully gone by 2026 and the life companies will realize they should have been careful wishing for what they did and shafting dedicated risk advisers. Their 2 year responsibility period, untenable premium increases and desire to reduce commissions will see them very much on their own, sadly, attempting to market policies through investment advisers (ineffective at best) and their lauded Robo-Advice. This will be an absolute compliance minefield and, again, ineffective. Life companies are going to find VERY difficult financial times ahead, starting mid-decade. Their statutory funds will be sorely tested. Don't even get me started on the stripped down policies, reduced benefit periods in IP with useless contractual definitions. Consumer and compliance nightmare coming soon. Bank on it, too late to save it now unfortunately!

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