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ACLs to prove a liability

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Australian Broker | 01 Nov 2011, 06:30 AM Agree 0
ACLs could be seen as a liability for buyers of broker businesses in future, and as a result are unlikely to add any value to a business, according to an industry expert
  • WhistleBlower | 01 Nov 2011, 11:21 AM Agree 0
    .... and, this is just another story that confirms the whole industry is a farce. The ASIC/Government drive to "Licence" was ostensibly a drive to empower the mighty ASIC. What this process was really designed to do was decrease the smaller players by placing more barriers and pressure points that (over time and through analysis) would lead any right thinking person to exit the (so called) industry.

    This was all driven by banking lobby groups in Canberra... anyone who remotely understands the word 'strategy' should have figured this out 2 years ago.

    It's just Freakanomics folks, cause and affect.... banks lobby, develop political debate, then voila a policy push, new legilslation and an industry in its early-stage development is taken over by faceless folk in Canberra and their finger prints aren't even left on the outcome - now that's clever.

    In fact, I'm might just start a push for an Australia Card, a National Identi card and serial number that can be attached to every transaction people are involved in, and for those in the mortgage game, you'll need to place your National Identity number on each loan submission, document..... and then on your home letter box.

    Now that's beautiful.
  • SteveMc | 01 Nov 2011, 12:59 PM Agree 0
    Really? We are awash with experts at the moment ready to capitalise on any perceived uncertainty from change - for a fee. Meanwhile, back at the ranch, good people do great work doing what thy do best. To those that have taken on the initiative on an ACL, go you good thing. The real experts are actually writing loans & building our broking business. The ones that can't, love to tell us how to do it.
  • Tony | 02 Nov 2011, 05:57 PM Agree 0
    She is kidding. A credit licence and Financial planning licence cannot be compared.
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