Advisers demand self-licensing regime: PollBY KARREN VERGARA | MONDAY, 16 JUL 2018 12:44PMA majority of financial advisers would welcome an overhaul of the AFS licensing regime, a recent survey shows. Related News |
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ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
For many advisers both financial planners and general insurance brokers are severely handicapped by the greed of their licensees. All too often the licensee directs investments, premium funding and which insurers to utilise because of "backhanders", shareholding commissions, and overrides.
There are many examples available of FP clients losing millions of dollars because of the licensees greed. I know I for one can name numerous examples, as can most experienced advisers and brokers.