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26 Apr 2018 (AFR) – Bad planners simply ‘go down the road to another association’ – FPA powerless to discipline planners

[COMMENT: With the current revelations from the banking royal commission, investors should be looking wisely for a good financial planner.]

(26 April 2018, AFR, p1, by Joanna Mather, Alice Uribe)

‘Incompetent or crooked financial planners can walk away from the industry’s professional associations, without any penalty, to avoid sanctions and punishment for giving poor advice to clients. The banking royal commission, which has been hearing evidence about the provision of poor financial advice, is to  examine the disciplinary powers and processes of the peak industry bodies, the Financial Planning Association of Australia and Association of Financial Advisers.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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