In February 2016 the Royal Commission into the misconduct of the Banking, Superannuation and Financial Services industry in Australia concluded with a number of recommendations being made that are set to have a significant impact on your financial planning business.
These recommendations are:
Advisers to disclose whether they are independent under the law
Conflicted remuneration such as commissions and fees linked to how much a customer invests, be banned within 5 years
Ban advice fee deductions from MySuper accounts
Advisers are to proactively ask consumers each year to renew any ongoing service they have with them
It is only a matter of time before these recommendations are forced into becoming legal common practice.
Register now for to gain instant access to this 30 minute on demand training which we will share with you the importance of shifting to independent advisor and the next step that you need to take to fulfil this soon to be legal obligation.
Daniel Brammall, President PIFA
About the Profession of Independent Financial Advisers (PIFA)
The Profession of Independent Financial Advisers guides Australians on how to find financial advisers who practice without incentive and without conflicts. It also educates and promotes the Gold Standard Of Independence™ for financial advisers in Australia
www.pifa.org.au | admin@wordpress-924931-3291720.cloudwaysapps.com
© PIFA 2019 | ALL RIGHTS RESERVED | PRIVACY | TERMS | DISCLAIMER | DESIGN BY EXPERT AGENCY