FASEA reforms tipped to spike advice fees in Australia

The incoming education standards for advisers in Australia put forth by FASEA are likely to cause an increase in the advice fees charged to clients, potentially by as much as double, according to voices in the industry.  Lifespan Financial Planning chief executive Eugene Ardino said that the more the industry goes down the path of charging for everything an adviser does for a client, the higher the cost of advice. "The unintended consequences of all of this is the entry to advice is going to be higher in terms of what it will cost to pay," Ardino told specialised news outlet IFA. "...