There is a brouhaha going on down under. It seems that the Australian Consumers Association has leveled its guns at the financial planning industry to rid it of taking commissions. These are the amounts that are paid to some financial planners for such things as servicing an investment portfolio. In that neck of the woods, it may be something like a half of one percent but the Association claims that when it is based on a total portfolio it can add up over a long period of time.
Now, understand that no one is claiming that financial planners shouldn't be paid for their services; it really comes down to the method of payment.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access