The Albanese government will seek a second opinion on Allens lawyer Michelle Levy’s plan to expand the number of low- and middle-income workers receiving financial advice by overhauling a decade of regulation.
Financial services minister Stephen Jones will order more “expert analysis and stress-testing” of Ms Levy’s Quality of Advice review before taking any of its 13 recommendations to federal Cabinet.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
