Yes, it is happening now, & started in 2014. They will end up discovering it will be a massive mistake, eventually. Their competition will hide their admin support with their investment fee component & the advisers who need to pay all their ongoing regulatory, new education and FOFA operating costs will have no choice but to take their clientele elsewhere.
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