Surely every business in the world that charges any sort of ongoing fee must technically charge fees to dead people at some point. It's simply impossible for businesses to turn their client's fees off the second they are pronounced dead. How do they know? Isn't it a sensible and reasonable approach to turn the fees off once they get a copy of the client's death certificate, and then refund any fees paid since date of death?
I don't know the specifics of the Avanteos case but there were certainly examples from the Royal Commission where this sensible approach was adopted and no client (or their estate) was in any way disadvanteged, yet the media chose to be hysterical and deliberately misleading about it. Is this another example of regulators using any ridiculous excuse to persecute financial service providers, and leverage the media as a tool of vilification?
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