Coalition Financial Services Spokesman Stuart Robert says most Australians can’t afford to speak to financial advisors, however, Levy’s report would offer affordable assistance from banks and superfunds on financial advice.
“We’d prefer Australians speak to financial advisors, but currently, at $5,000 to do a statement advice, it’s out of the reach of most Australians,” Mr Robert told Sky News Business Editor Ross Greenwood.
“We’d prefer Australians to speak to their bank to ask ‘which bank account should I be in?’ or their superfund, ‘should I be in a retirement or an accumulation phase?’ and the Levy report deals with all of that. “If we don’t do anything, Australians will go to Dr Google or they’ll go to ChatGPT, and they’ll say, ‘where should I invest my money?’ and we’ll have the worst of occasions.”
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