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Financial Planners Push Back Against Royal Commission Recommendations

ceo pay ratio financial planning
Written by The ReReport
As seen in the Source link, written by crikey.com.au on 2019-03-05 10:30:53

A segment of the financial planning industry continues to see itself as the real victim of banking scandals and is desperate to stop any reform.

They’re back: the deadenders of the financial planning industry who bitterly fought efforts to improve financial advice a decade ago are once again assembling to try to stop the implementation of the Hayne royal commission recommendations.

The “Association of Independently Owned Financial Professionals” (AIOFP) is now threatening a High Court challenge to any ban on commissions, as recommended by Hayne and agreed to reluctantly by the Morrison government (which wants to delay a ban until into the 2020s because the financial planning profession are traditionally Liberal voters).