CSLR's unanticipated cost and legacy burden on advisers

In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by Phil Anderson to discuss the industry's concerns regarding the latest CSLR levy, emphasising the unexpected scale of the levy and its focus on covering legacy issues. Anderson, who is the general manager of policy advocacy and standards at the Financial Advice Association Australia (FAAA), highlights the unexpected scale of the levy and its focus on addressing legacy issues, expressing surprise at the burden placed on advisers. The conversation also delves into the reasons behind advisers being tasked with covering expenses they believed would be shouldered by the government, shedding light on the complexities of the situation and its potential impacts on the advice sector. Tune in to gain insights into this pressing issue and the ongoing efforts to address it.