Ann: Pre-Quotation Disclosure Notice With Various Confirmations, page-10

IMO, the Lonsec Approved rating won't get them as far as they think. That is their lowest investment grade rating. Most dealer groups only accept Recommended and above.

Of the two researchers with the most market share to advisors (that cover products like this because Morningstar won't), one says Approved and the other is Not Investment Grade.

So it's down to direct investors/SMSFs. They have got a long way to go.