Someone at Money Management clearly has an axe to grind here. As Walker above stated, you would need a huge revenue stream to justify a salary of that magnitude, but equally writing this story clearly has the purpose of stirring the nest. Only our clients suffer when we continue to have this ridiculous debate in our industry of banks v non for profits, the fact is the industry has moved on, we now have mutuals, profit for member, and other 'non bank owned' Superannuation and financial planning offerings (most of whom are not represented by ISA) this argument only serves to get the IFA segment angry. If you do a bit of digging you will see the world is a lot bigger than these backyard bullies want us to believe.
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