I think the politicians will be wielding an axe no doubt, but that will be to enforce Haynes recommendations, and although I’m very cynical in most areas, I believe Hayne will realise that getting rid of vertical integration is not particularly helpful. As an outsider, I’d be all for abolishment of commissions completely, but i wouldn’t be for getting rid of vertical integration.
By the way did you watch the recent ifl presentation? They seemed to be alluding to the contemporaries (presumably netwealth praemium hub24) as being all about the user interface and being terrible in the back end (often manual), I may be way off the mark but I thought ifl had a decent platform (their head of tech was impressive) and were the best of the big advisor groups at education/academy etc.
Also I watched the couple of hours of CK on the stand and he didn’t come across well although I assumed that was due to advice to avoid ‘helping’ the commission as amp did (and got punished for it). In hindsight it was a terrible ploy.
Ps anyone want to guess at the scale of the fine to be fished out?
(20min delay)
