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Wealth Professional | 15 Oct 2015, 08:15 AM Agree 0
A new report from Down Under is raising questions about how the big banks have been able to raise $10 billion in fees from the primary investment vehicle for low-to-medium income Australians
  • David Atwood | 15 Oct 2015, 10:24 AM Agree 0
    While banks in Australia and Canada are large beneficiaries of the management fees generated on money products, the new disclosure obligations are intended for the protection of consumers. The decision to focus on advisor compensation only and not the management expense to the investor has the potential to favor manufacturer/distributors and it is sure undermine confidence and lead to greater confusion as advisors are tasked with explaining the difference.
  • Gerald Curtis | 15 Oct 2015, 11:38 AM Agree 0
    Seems all is not well in investor paradise ;)
  • Barb Amsden | 15 Oct 2015, 11:42 AM Agree 0
    Interesting article - defined contribution plans in Canada - I don't think they are subject to CRM2 disclosure. Hmm.
  • Mark Matsumoto | 17 Oct 2015, 03:05 PM Agree 0
    What's that saying about absolute power and absolute corruption?
  • Tired of this issue | 18 Oct 2015, 11:02 AM Agree 0
    Advisors are doing the best they can within thie framework of regulAtions in place in canada. If consumer protection is (and should be) paramount, then eliminate dealers holding advisors captive and make advisors independent of dealers - banks and dealer firms. This will address all issues and allow advisors to have professional obligations to client.
  • Jim Zoellner | 20 Oct 2015, 10:46 AM Agree 0
    Most clients do not pay so much attention to fees as the media makes us think so. I have yet to see a survey where fees was the numer one concern. Investors are willling to pay fees for professional and experienced advise. Returns and risk control remain supreme.
  • kathy Waite Your Net Worth Manager | 22 Oct 2015, 10:52 AM Agree 0
    People don't expect you to work for free, its about disclosure, choices and value for money. They dont expect a positive return each year either but they do expect you to keep them informed.
  • M Skretteberg | 12 Nov 2015, 03:17 PM Agree 0
    What assets the banks don't win through free enterprise, they will win by legislation...
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