CBA hit with another financial planning class action – Money Management

Hopefully this class action will fail against Commonwealth Financial Planning and succeed against FinWis.
Consumers fully expect to have inhouse products recommended to them when they choose an institutionally branded adviser from Commonwealth, Westpac, AMP etc. Just as they expect Toyota dealers to recommend Toyotas.
But they expect independent advice when they choose independent sounding advisers like Fin Wis, Hillross, JB Were, Bridges etc. The law has failed consumers by allowing big insti…

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