Seriously, can we stop pretending? We all know Industry Funds added financial planners as an after thought and the only reason they exist is to keep members in the fund. Any good advice they give is only incidental. The reason why they can take advice fees from all members, is because (in the twisted minds of the directors) it is in the members best interest to have scale. So let's call them what they are - sales people or retention officers. What next? Drug companies will be able to employ call centre staff to give advice directly to patients? Would you be happy with that Mark? No conflicts there? What if the advice is limited to switching doses, or switching to another one of their branded products or remaining on the medication longer? Would that be ok under the banner of 'intra-medication advice'. Yeah right. See how bad it looks you compare it to another industry. There needs to be a complete separation of product and advice. I'm sick of this nonsense from industry fund product floggers masquerading as financial advisers. They are completely brainwashed, totally conflicted and a blight on our profession.
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