Submitted by Sue on Tue, 2022-11-29 09:21

Thanks Phil. Keep on raising the issues with the Code of Ethics. Every aspect of it needs to be revisited, and not by the legal practitioners who were responsible for writing it in the first place.
eg Standard 7 - how can a client give free, prior and informed consent to the benefits an adviser may receive when they themselves have no idea of the benefits they will receive by obtaining advice in the first place.
Standard 7 clearly includes fees in the benefits an adviser can receive.
My experience is that clients who can see the value of the advice they have received are far more likely to be able to give "informed" consent to fees. Or has win/win gone out the window?

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