The quality of SMSF advice being provided to consumers has been found to be of very high quality and the number of complaints are low, according to the Australian Financial Complaints Authority.

The recommendations of the Hayne Royal Commission have not improved financial advice or lessened the complexities of its regulatory framework, the AFA says.

Financial advisers and those in management roles should all be covered by a work history protocol to stop ‘bad apples’ moving through the sector.

A rise in mental health issues among financial advisers is the result of the many changes within the advice industry and advisers need more support.