I agree that lifting education standards of individuals is also not the sole solution to all the issues facing the industry at present. The companies and their ongoing compliance regimes (or lack of) also let down consumers.

The article also talks about a quality review program which really should be in place in order to adhere to their AFSL obligations. Maybe a national standard with greater guidance and adherance should be considered, ie AFSL lodging annual reports of their ongoing quality review regimes?

This could help demonstrate accountability by the AFSL's, how often they review their advisers, and eloborate on corrective action whereby they have made an adviser write to a client about a breach that was identified.

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All the industry bodies, associations, investigations etc continue to ignore the main reason for all the shonky behaviour: senior management.

Now we have the ex-CBA boss running the investigation into financial services - talk about putting Dracula in charge of the blood bank! As if he will come down hard on his buddies: what a slap in the face of consumers.

Yak yak yak about "training" and "education" - they are important but have very little to do with what these groups do to their customers.

Shame on the government and the pathetic industry bodies.

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