The Royal Commission verdict is out

Money and Life

The FPA is continuing in its work to deliver better consumer protections and improve professional and educational standards as highlighted in the final Royal Commission report handed down by Justice Kenneth Hayne.

The key recommendations for financial advice are as follows:

  • No more trailing commissions

  • Ongoing advice fees to be annually reviewed

  • Reducing commissions on life insurance

  • A new disciplinary system for financial planners

  • Quarterly reporting of misconduct concerns

  • A renewed commitment to the clients’ best interests

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