Agent 86 - did you pay any attention to the Royal Commission? the fee for no service issues that arose? that's not just limited to the few groups they put on the stand, that's the norm. The advisers out there working in small businesses are the one's that are doing the right thing, providing service, but the big groups, which dominate the industry, charge fees for nothing more than sending out a letter suggesting the client get in touch with them if they want a review i.e. doing nothing.
Your reference to fee for service just shows you're stuck in the old mentality of providing advice, that every client should be paying an ongoing fee. Some need it, some don't. If you're ethical then you'll tell clients when all they need is a one-off advice piece of advice and that an ongoing service arrangement wouldn't benefit them.
All those clients you're talking about don't even know they are paying an Adviser a commission. They fall outside of the FDS regime.
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