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 |
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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.