The problem is Chris F that it's not 90% of planners that are doing the right thing. The banks and AMP directly or indirectly (through aligned licencees) employ a huge percentage of the industry. Regulation is not the solution, FOFA never tackled the underlying issue of Advisers being employed by product manufacturers, until there is a structural change, that will continue to be the problem. What we will get though is more regulation because the Government needs to be seen to be doing something.
In order to give you the best site experience, we need to know what kind of investor you are. Please select the title that best describes you below.
Financial Advisers - Investment
Financial Advisers - SMSFs
Individual Investors with SMSFs
Financial Advisers - Insurance
Accountants and Solicitors
Financial Services Professional