In this episode of the ifa podcast, host Maja Garaca Djurdjevic is joined by her predecessor, James Mitchell, to chat about the state of the industry and why, perhaps, advice isn’t meant to be affordable. James compares the state of the industry today versus when he was at the helm of ifa, and delves into some of Michelle Levy’s more controversial proposals, such as the return of the superannuation funds and banks to advice. He also talks about the Royal Commission and why he believes it was almost perfectly made for media headlines. Advice, James says, has “got to be one of the most challenging industries to work in from a regulatory and compliance perspective”. Moreover, James shares why he believes there needs to be consensus regarding the definition of advice before any more tweaks and quick fixes are implemented.