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Wealth Professional | 18 Mar 2015, 10:18 AM Agree 0
An advisor who’s seen the carnage of UK regulatory reform up close is expecting to see as big as a 25 per cent cull of advisors if the OSC moves to drop embedded commissions.
  • Brett | 18 Mar 2015, 12:55 PM Agree 0
    It will be a blood bath of Advisers leaving the industry, then what/who are the general public going to use for their Advice? Doesn't this defeat the purpose of having protection for the general public/customer? Rather than ban embedded commissions etc, give the consumer the right to choose, just as they can today. Fee for service or DSC? Too many advisers don't want to speak to you unless you have in excess of $ 250,000 in AUM. Who are these people going to go too? they need the most assistance. There are many in the general public who need and want help, but do not have the ready funds to pay for it? So, will the Government have to assist them in their retirement more, naturally, as they will not have received the advice they need to accomplish their goals. This discriminates against them because they are not worth enough for some advisers to bother with. Bad news, leave the client the option. If it ain't broke, why fix it. Horror stories from the countries who have done it.
  • Richard Pieprzak | 19 Mar 2015, 08:02 AM Agree 0
    It looks like the return of old fashioned, stock trading and a transaction based business. Now there's transparency! Next thing will be a ban on trading commissions.
    I am really disappointed that the regulators fail to see all that we, as advisors, do for our clients. There are so many instances where we are paid not anywhere nearly enough!
  • Ryan | 19 Mar 2015, 10:18 AM Agree 0
    CRM 2 does nothing to protect the client.
    They will continue to fall prey to fraudsters, and client s have no idea what "CRM 2" is, or what it's for.
    CRM 2 is another layer of burden on the industry that increase cost's and reduces the level of advise that clients need so badly.
    What's next to protect clients?
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