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Do all ASIC employees who choose to join their default super option in AustralianSuper receive the Qantas frequent flyer points offering and does ASIC use Qantas as it's preferred airline when travelling ?
If so, are ASIC employees able to accumulate Qantas frequent flyer points in their own name through accumulated travel.
Could there have been any incentives offered to ASIC when electing AustralianSuper as their default super fund regarding Qantas and travel arrangements ?
Many years ago, it was made very, very clear by the regulator that no financial adviser must offer any form of third party incentive, gift or reward in order to entice or encourage the consumer to either engage advice or implement a product.
You simply could not offer an unrelated reward as it was seen as coercion.
If AustralianSuper is allowed to offer this incentive to join their fund, is there any issue with an adviser offering a holiday, fuel vouchers, restaurant meals, etc etc if a consumer were to commit to an initial comprehensive discussion regarding their financial affairs for $350.00 ?