'Good Advice' is just sales by another nameBY VINCE SCULLY | WEDNESDAY, 14 JUN 2023 3:53PMWords matter. They matter both to the listener and to the speaker. And they matter even more when it comes to money. I would argue that the way regulators and the law currently ... Upgrade your subscription to access this article
Join the growing community of financial advisers
with unlimited access to our latest news, research and analysis of the industry.
Become a premium subscriber today. |
Latest News
Adviser fakes exam certificate, cops ASIC ban
ASIC has slapped a permanent ban on a financial adviser who doctored her exam certificate and continued to provide advice without the proper qualifications.
Sequoia chief's job at stake in upcoming EGM
Sequoia Financial Group will hold an Extraordinary General Meeting (EGM) in June that will consider a resolution to remove chief executive and managing director Garry Crole.
Goldman Sachs ditches robo-adviser Marcus Invest
The investment bank is offloading Marcus Invest to Betterment just three years after announcing it will launch the digital adviser.
Fortnum, PFS launch parent company
Fortnum Private Wealth and its newly acquired advice business Professional Financial Services (PFS) will operate under a newly launched parent company brand, Entireti.
Cover Story
Passing the baton
LIAM ROCHE
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
ADVICE ASSOCIATE
EUREKA WHITTAKER MACNAUGHT PTY LTD
Liam Roche's experience in customer relationships and paraplanning has set him up for success as a financial adviser. Now undertaking the Professional Year, the advice associate at Eureka Whittaker Macnaught tells Karren Vergara how a new breed of advisers is flying the flag.
Brilliant and simplified way of explaining this problem. Super funds will always sell the best toaster and the client will be none the wiser, it's no doubt sales and a risk to go back to the worst excesses of the past. Super funds will spend millions of their member's money marketing to them and pushing their "Toaster", and the consumer will be worse off. Good one, Levy.
Finally, a bit of clear thinking from someone who is not trying to apply legal terminology to financial products. QAR will not resolve any issues either for consumers or advisers.
This is what I have been trying to say all along, but perhaps not as simply: FINANCIAL PRODUCT SALES versus ADVICE is indeed two very different beasts. One is conflicted and the other should be independent. Thank you, Mr Vince Scully for putting it so simply.