Non-bank-aligned adviser cops permanent ban

Both "Anonymous" and "Really?" are correct - this is piss-weak journalism and misses almost every conceivable, relevant point. ASIC is correct to deal with this (as it involves advice without a licence, once an invoice is issued directly by the adviser rather than the licensee, BUT the deeper issue is probably a contractual one and may point to lax supervision by the licensee. Why/how the reporter failed to deal with the wider issues is interesting - or perhaps just lazy? If the story (as written) stays within the advice community, no harm done, but if this is spread more widely it will damage reputations more than it should. We don't expect any favours from reporters, but equally, they should know we won't do them any if this is the best the can manage.

New material "Boutique-aligned". Whisky Tango that IFA Staff Reporter!