Advice affordability isn't a licensing issueBY EUGENE ARDINO | THURSDAY, 15 OCT 2020 4:17PMPublic 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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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.
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.