Trapnell rejects 'no way out' stance by licenceesBY MARK STORY | FRIDAY, 25 JAN 2013 12:05PMYou can check-in any time you like, but you can never leave: Synchron director Don Trapnell has used the immortal lines from the classic 1970s Hotel California hit to reaffirm his rejection of licensee heavy-handedness dealing with advisers who want out. |
Editor's Choice
UniSuper outage continues, no cause identified
|The super fund plans to begin restoring services later this week, though chief executive Peter Chun has told members the root cause of the outage remains unknown.
Australian Retirement Trust wraps up AvSuper merger
|Australian Retirement Trust (ART) has completed its merger with AvSuper after the two super funds formalised negotiations in February 2023.
ASIC clamps down on advisers, trustees cold calling
|Financial advisers, licensees, and superannuation trustees are facing the ire of ASIC after an investigation found they are profiting from boiler room tactics that convince members to switch funds.
FSC launches digital advice group
|The Financial Services Council (FSC) continues to expand into financial advice by taking on a digital advice association that flagged its formation one year ago.
Products
Expert Feed
Why advisers should consider offering general insurance to HNW clients
I have read many articles over the years about servicing high-net-worth (HNW) clients in the financial services industry.
The role of AI in financial planning: Insights from the US
Ever since ChatGPT burst onto the scene late last year, generative AI has been front and centre of business discussions and financial planning, just like ...
Considerations when nominating a charity for your super upon death
There has been a lot of talk lately about the upcoming great wealth transfer, and you might be wondering where charities fit into all this.
The end of free money
With institutional investors prudently reassessing their risks in current market conditions and seeking safe havens in alternatives such as secured private ...
Featured Profile
Robert De Dominicis
CHIEF EXECUTIVE OFFICER
GBST HOLDINGS LIMITED
GBST HOLDINGS LIMITED
It was during a family sojourn to the seaside town of Pescara, Italy, Rob DeDominicis first laid eyes on what would become the harbinger of his future. Andrew McKean writes.
Anyone who compares the provision of financial advice to Australians to a holiday in a hotel doesn't understand why advisers exist in the first place.
It would be nice to know the names of the licensees which operate in this way.
Yes indeed, I second that! Name and shame, I say! Seriously though, it really would be quite valuable to have some sort of register(?) or some way of knowing which are the unreasonable (dangerous!) dealers to avoid. It is too late to find out AFTER you've joined one of these bloodsuckers. Please consider naming them if you know who they are! there is no excuse whatsoever for that low level of behaviour from a 'dealer'.
Or dealer groups that don't do bulk transfers of trailing commissions on exit. This amounts to a considerable 'exit fee' as the departing advisor must obtain a 'change of advisor' form for all clients they wish to retain.