The minister shot down hopes of extending the planned Compensation Scheme of Last Resort, saying that including Managed Investment Schemes would coddle investors and disrupt the founding principles of risk and reward.
The SMSF Association is the latest industry group to throw its support behind the Financial Services Council (FSC) which proposes a number of advice reforms.
The financial advice industry welcomes the Financial Services Council (FSC) recommendations to help reduce red tape and make financial advice more affordable, but one dealer group is unsure whether the FSC is trustworthy - particularly for risk advisers.