IFA: Decoding ASIC levies and retirement security

In this episode of the ifa Show, host Maja Garaca Djurdjevic is joined by co-host Keith Ford to discuss the recent concerns raised by Sarah Abood, CEO of the Financial Advice Association Australia (FAAA), about ASIC levies and the role advisers play in ensuring Aussies retire comfortably. Maja and Keith take a closer look at ASIC's cost recovery implementation statement and share why the FAAA's CEO believes the numbers just don't line up. They discuss the steps the group has taken and whether it holds the power to influence the corporate regulator to take another look at its projections. The conversation shifts to the intergenerational report and its findings on retirement savings. While the report predicts a significant increase in total assets in the super system over the next four decades, the government is concerned about Australians' reluctance to spend their retirement savings. As such, Treasury is now expected to release a consultation paper to address this issue and strengthen the accessibility of retirement products by taking a closer look at advice, among other things. The discussion also covers the roundtables being hosted by Treasury, where various stakeholders have been called upon to provide their opinions on the Quality of Advice Review.