Finance advisers mostly a sales force, report says

THE financial advice industry has been dealt a blow with evidence that some of its biggest names - AMP, Colonial, and BT - are mostly telling clients simply to buy products offered by their parent companies.

A report obtained by the Herald shows that despite widespread calls for the industry to reform, financial advisers working for leading fund managers almost invariably advise clients to invest in their parent company's superannuation products...

Brisbane Times (Australia): Finance advisers mostly a sales force, report says