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2 July 2013 16:18
poll, poll results, role, services, superannuation
One response to “POLL: Has government downgraded the importance of financial services and superannuation by splitting the role between Chris Bowen and David Bradbury?”
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Fund Managers are taking an advantageous view on grandfathering that will deter you getting your own licence. We have been told by 2 major fund managers that as we did not have AFSL agreements in place with them pre July 1, 2013, no trail will be paid to us on existing clients transferred to our new AFSL. Interestingly, they wont be rebating the trail to the client either !!!
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Balance of power shifting back to licensees
Under Australian law, financial advice licensees are recognised as powerful intermediaries between the distribution of financial products and household wealth. Now, licensees are starting to enjoy economic conditions commensurate with that heightened liability.
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