NAB gives advisers 3 years to meet tougher standardsBY LAURA MILLAN | MONDAY, 25 AUG 2014 12:35PMNational Australia Bank (NAB) and MLC financial planners have three years to meet the new education standards, which require advisers to hold tertiary qualifications.
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How does increasing the education requirements of advisers make advice more affordable for Australians? Last time I studied Economics, decreasing supply meant prices rose...ceterus Paribas.
Proper education is important in giving you the required skills to give good, efficient and professional advice. How it can be linked to the scandals is beyond me. That comes down to adviser ethics, the remuneration model of institutions giving advice and removing the link that gives an adviser for a product they flog. Education does not eliminate the potential for further scandals.