ASIC will turn a blind eye to vertically integrated industry funds in order to protect them. Intra fund advice is blatantly conflicted yet industry fund financial planners can dodge FOFA obligations!! There will never be a level playing field until intra-fund advice is banned and clients pay for advice on a fee-for-service basis like everyone else. However, with the Libs about to be thrown out in a landslide election, the comrades in the Labor Party will not allow this “free service” to be outlawed.
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