Totally agree with Don Trapnell's comments re vertical integration. It is not a problem if the consumer is fully aware of what's going on. There is nothing wrong with AMP branded financial planners recommending AMP products. But there is a lot wrong with Charter or Hillross branded planners recommending AMP products. It is similarly wrong for FinWis planners recommending CFS, Shadforth planners recommending IOOF, Securitor planners recommending BT, etc etc.
If Hayne doesn't recommend a complete ban on vertical integration, let's hope he recommends compulsory brand alignment between product companies and their advice divisions. Relying on FSG and SoA disclosure is totally ineffective for 99% of consumers.
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