Why this professional remains optimistic about advice despite ‘disappointing’ levy increase

The ifa Show

In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by the chief executive of Lifespan Financial Planning, Eugene Ardino, to delve into the latest developments in the financial advice industry.

Mr Ardino discusses the government’s response to the Quality of Advice Review (QAR), the experience pathway, and the increasing ASIC levy.

He shares why, despite the disappointment with the ASIC levy increase, he remains optimistic about the industry.

Mr Ardino also touches on the potential impact of the QAR and the government’s support for certain recommendations and acknowledges there are certain challenges in defining and implementing a good advice duty.

He also shares his thoughts on the simplification of statements of advice (SOAs) and why he anticipates that the government and regulators will work together to define what a good record of advice should look like.

Moreover, Mr Ardino dismisses concerns that licensees would still enforce lengthy documents and emphasises the importance of industry consensus and consumer-centred approach.