Onus on consumers to ask about commissions: SinodinosBY JAMES FERNYHOUGH | WEDNESDAY, 12 MAR 2014 12:45PMConsumers must take responsibility for finding out whether their financial adviser has a conflict of interest, according to Assistant Treasurer Arthur Sinodinos. Related News |
Editor's Choice
Praemium's new leadership toughens earnings yardstick
Praemium's new leadership will be keeping a close eye on costs, with new chief executive Denis Orrock noting he will make sure the technology upgrade underway translates into stronger earnings and better returns for shareholders.
Australian Ethical FUM drops by $70m
Australian Ethical saw a net outflow of $100 million in its investment business in the first quarter of the financial year.
Perennial expands wholesale offer for pre-IPOs
Perennial Partners is launching a new strategy for wholesale investors to capitalise on global pre-IPO opportunities, requiring a minimum investment of $100,000.
Macquarie wealth investment chief to depart
Macquarie chief investment officer for wealth will take on a new role at a New Zealand-based investment management firm after serving in the position for close to three years.
Further Reading
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Sharpe
CHAIRMAN
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
FINANCIAL ADVICE ASSOCIATION AUSTRALIA
A family man, business owner, cricket fanatic and financial adviser, David Sharpe has many facets. One of his biggest legacies, as he steps down as chair of the Financial Advice Association Australia, is leaving the profession stronger than he found it.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
The industry is doing itself great harm if it follows Sinodinos down this cynical path.
There's a bit of gratuitous advice for the FA professionals in the industry because the 6 week trained, ex used car salespeople will do well for a year or two, they will then be driven out leaving it all in a shattered mess. Good luck.
Great to see the Honourable Member has removed the cause of the Financial Industry's involuntary shock under the previous govt legislation. Buyer beware is a tried and tested truism that can be relied on as a guaranteed source of income. Combine that with self regulation and weak enforcement by regulators and it's business as usual.