Advice affordability isn't a licensing issueBY EUGENE ARDINO | THURSDAY, 15 OCT 2020 4:17PM Public discussion over the last few months has taken the financial planning sector back to a well worn debate about moving to a system where anyone who wants to provide financial ... Upgrade your subscription to access this article
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MAGDELINE JACOVIDES
FOUNDER AND FINANCIAL ADVISER
MAZI WEALTH
FOUNDER AND FINANCIAL ADVISER
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When a license is operated as a co-op model which provides adviser access to aggregate pricing to essentials such as PI etc etc then would work fine and in harmony. When an AFSL is run as a profit centre then it is hard for that model not to be conflicted. It just seems your post is focused on your best interest.
On the previous comment, I wish to point out that any group of advisers may right now form their own AFSL and achieve the same outcome as a "For Profit Model" and I might add they would need to achieve the same outcome to ensure their survival.
Future practices will operate on a similar model to Accounting Partnerships and such groups will need to exist to contain costs.