Show Notes
Welcome back to The Account Rant.In this episode, John Saade sits down with Leigh Morris, founder of SFP Financial and the voice behind Financial Leigh, to discuss the Albanese Government’s major shake up of the financial advice industry.The new rules could allow super funds and life insurers to provide a wider range of advice to members through a new class of adviser, while banks are excluded from the regime for now.But Leigh is not impressed.As a former financial adviser, Leigh explains why the changes feel unfair to independent financial advisers who spent years dealing with higher education standards, national exams, professional years, ongoing CPD and heavy compliance after the Royal Commission.John and Leigh break down why this could push more Australians to receive advice inside large super funds, why that creates potential conflicts of interest, and why smaller independent financial advice firms may be squeezed out of the market.They also discuss SMSFs, residential property borrowing restrictions, the rising power of industry super funds, advice affordability, compliance overload, and whether young people should still consider becoming financial advisers.This episode covers:The new financial advice shake upWhy Leigh Morris thinks the rules are unfairSuper funds giving more advice to membersWhy banks are excluded for nowLower education requirements for the new adviser classFinancial advisers after the Royal CommissionWhy compliance made advice more expensiveThe problem with advice inside super fundsPotential conflicts of interestIndustry super funds and political influenceSMSFs and residential property restrictionsWhy independent advisers are under pressureWhether young advisers should enter the industryThe future of financial advice in AustraliaConnect with Leigh Morris:SFP Financialhttps://www.sfpfinancial.com.au/Instagramhttps://www.instagram.com/financial.leigh/LinkedInhttps://www.linkedin.com/in/leighjmorris/Need an accountant?GET A FREE CONSULTATION FOR ALL ABN HOLDERShttps://forms.zohopublic.com/john205/form/GENERALENQUIRYFORM/formperma/VYEBrsCV_ompEVvnkA0eygWlJxXO5OajFsjjngf_jzwOUR SERVICEShttps://latitudeaccountants.com.au/accounting-services/[email protected]://www.tiktok.com/@latitudeaccountantsInstagramhttps://www.instagram.com/latitudeaccountants/YouTubehttps://www.youtube.com/@LatitudeAccountantsLinkedInhttps://www.linkedin.com/company/latitude-accountants/Facebookhttps://www.facebook.com/latitudeaccountants/Websitehttps://latitudeaccountants.com.au/This content is general information only and does not constitute financial, legal, tax, mortgage, superannuation or business advice. Speak with a qualified adviser about your own circumstances.
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