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We can spend the next year or two arguing this again or we can accept that a lot of our current business model is structurally corrupt. Rather than arguing for something which directly links an advisers income to sales of product, lets use the time we have to develop businesses where our advice is valued and our clients (not product manufacturers) pay for it directly.
Because of the actions of some big players and a small number of advisers the reputation of everyone is tarnished.
Financial advisers need to be recognised for the advice they give and be seen as independent of the products they use to implement their advice. The model at the moment devalues advice and transfers the value to those who really don't deserve it.
Time to me on. Spend time trying to get some sense back into things rather than arguing for something which is now too damaged. Times have changed and we need to move with the times.