The rise and fall of multiple advice regulatorsBY PHIL ANDERSON | FRIDAY, 11 DEC 2020 11:20AMWhat does the Government's announcement this week, to create a single, central disciplinary body for financial advisers mean for advisers? It should mean the beginning of the ... Upgrade your subscription to access this article
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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.
Can't believe its taken this long for some common sense to prevail!
It's vital to bring a clear sense of commercial reality and responsibility to the financial planning sector. Limited scoped advice should be the norm. Current structure is imposing onerous duplication, and in reality, only the wealthy can afford advice. Draconian penalties are driving a knowledge drain on the industry and those who need advice as least as much of the wealthy as prohibited by price. This ultimately extends the gap between the wealthy and others.
Too many agendas and too many people on the Industry payroll ultimately the client pays, and the Adviser is forced to increase their fees to pay for all the regulatory bodies the Industry has created