Banks should pay advice exit levy: TAABY ANNABELLE DICKSON | THURSDAY, 18 MAR 2021 11:31AMThe Advisers Association (TAA) is calling on the government to mandate major banks and institutions pay an exit levy upon leaving the advice industry to provide relief for financial advisers and mitigate the increasing levy. Related News |
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David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
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Frankly, why is it that advisers are changed a levy at all to maintain a government bureaucracy? A policing agency at that! It's incredulous to me that the various adviser associations have meekly sat by and not raised a single voice in protest about this outrage?
It's not unlike a couple of government reps coming into your home demanding all of your valuables and all of your money. You protest and say 'how do you expect to get away with this?' They then say, 'two reasons: a) because we want what you have; and b) because we can!'