Friday, May 01, 2009

Bloody hell! It's not April 1 is it?

FPA recommends fee-for-service advice

Friday, 1 May 2009 12:55pm

In a day that marks a new chapter in the financial services sector, the Financial Planning Association (FPA) has recommended to the government that the standard remuneration model for advice should be fee-for-service, citing that the "commission-based regime is unsustainable" and has only deterred the public from seeking financial advice.

This is a day I never thought would come.

A stream of employees have left the FPA in disgust with the approach of its members.