An auditor's view of conflicted adviceBY BEN MOFFATT | FRIDAY, 2 AUG 2019 11:36AM"But why should conflicts of interest be a problem? People should simply be able to declare their conflicts of interest and make their decisions in accord with their professional ... 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.
Every commercial transaction has a potential conflict of interest. In every commercial transaction there is a mix of loss and gain to both parties. All advice which is bought (not free) carries a gain and a loss to both parties. Only where altruism is the only motive can there not be a potential conflict of interest. If the professional adviser has no personal or financial goals then there is no potential conflict. To ignore this basic fact is a political pretence.