Platforms contacting advice clients without adviser knowledge
“This isn’t the first time that some platforms have contacted clients of advisers – we saw similar instances when fees and commissions were turned off by some platforms well in advance of legislation,” she said. “No doubt the platforms believe they have good reasons for taking this step, and circumventing the adviser’s relationship with their clients. They may claim that it is a regulatory requirement, or perhaps an action to reduce liability. Another reason may be that they lack the technological ability to obtain consent in a more adviser led or digital way.” Bernasconi note...
Source: moneymanagement.com.au