When you buy a house through a real estate agent, does the agent get grandfather fees for the rest of the time you own the house? When you get treatment from a doctor, does the doctor get grandfather commissions for the rest of your life? I could keep listing examples but you must get the point - why should the financial advice industry be any different?When people pay for professional services then they are doing so because they need the services and are prepared to pay for those services.Other professionals have sliding scales for various services and that should not be too hard for the financial advice industry to implement.There was enough comping out of the Royal Commission to demonstrate that grandfathering was not a good practice. Grandfathered commissions made financial advisors lazy and slack and gave a bad name to those who were ethical.Other posts have pointed out the opportunities available to professional financial advisors. The sooner the complainers leave the industry then the better for those who take up the opportunity to add value to clients' financial positions.Take the opportunity; grab the upside.
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