I have no problem with Ray White joining the list of those who wish to derive an income from the business of investments and the like, but I would like to point out the oxymoron included in the words "to launch financial advice dealership". Dealing and advising are completely separate and - by definition - mutually exclusive operations.

A dealership is about selling/dealing in product: an advisory is about discussing various options and recommending one or more as superior - and therefore MUST exclude the completion of or interest in any transaction, if it is to be advice rather than dealing.

Therefore our solution to the age-old conundrum of regulation in this industry (note: NOT profession) is to separate advice from dealing and NOT allow dealers to call what they do advice. Advisers (about product) should be licenced separately from dealers (sellers of product) just as they once were, 30 years ago. It's a simple but to some unpalatable and dare-I-say inconvenient truth.

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