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Totally agree. The obvious cause of the problem is the conflicts of interest associated with a vertically integrated business model. The fact that separation of financial advice from the product manufacturer was not recommended means the problems will continue once the dust settles. I wonder if the fact that Industry Super Funds are vertically integrated had anything to do with the reason why Hayne did not recommend an end to this business model. Industry Super Fund advisers only ever recommend their own product but apparently this doesn't matter.