The leading SMSF body has identified the issue of not receiving financial as more serious than the delivery of poor advice.

The level of interest in financial advice has reached record levels this year, with active advice clients also demanding higher levels of engagement with practitioners.

Any move to make financial advice accessible for more consumers should not prioritise a reduction in cost over the quality of the advice provided, CHOICE chief executive Alan Kirkland says.

The complex regulation surrounding the provision of financial advice drives up costs and prevents a large portion of the population from accessing much-needed advice.