Financial adviser 'reforms' will undermine yet another royal commission recommendation

By Gurbinder Gill, Teaching Scholar, Financial Planning - Department of Accounting, Faculty of Business and Law, Deakin University

If you were facing open-heart surgery you’d want to know your surgeon was qualified. Or, if you were going to court, that your lawyer was specialised in the relevant area of law.

Should you expect any less from a financial adviser, with whom you may entrust your life savings and financial security?

Even before the revelations of the Hayne royal commission into misconduct in financial services, the need for greater professionalisation of financial advisers was acknowledged.

In 2017, the…

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