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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Featured Profile
Blake Briggs
CHIEF EXECUTIVE OFFICER
FINANCIAL SERVICES COUNCIL
FINANCIAL SERVICES COUNCIL
Since becoming chief executive, Blake Briggs has renewed the Financial Services Council's influence, expanded the membership base, and strengthened its policy and advocacy credentials. Karren Vergara writes.
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.