The financial planning industry says more than 35,000 jobs are under threat if the government goes ahead with its financial reform plans.
The government wants to pass legislation designed to improve the quality of financial advice but a parliamentary committee has heard there are serious concerns about the laws.
The Association of Financial Advisers expects job losses over the comming years could be in the tens of thousands once cuts flow through to the back-office personnel, who are used to support authorised financial planners.
Industry is also concerned the proposed start date of July 1 this year is too soon.
