The first changes from the Royal Commission

Discussion in 'Loans & Mortgage Brokers' started by Marty McDonald, 26th Mar, 2018.

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  1. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

    Joined:
    14th Jun, 2015
    Posts:
    10,629
    Location:
    Gold Coast (Australia Wide)
    many many of our responsible clients are set up with either

    reasonable risk buffers or
    war chests so they can act quickly in the equities or property market.

    I fully understand why they have needed to do it, but in my view, for our typical client base, if we were to follow the guidelines........ would place our clients at significant risks.

    Classic competing commitment

    Does one serve the client with what is best for them, ethical, and legal ( at the moment ) or does one roll over and comply with the edicts.

    Its damn hard to serve 2 masters...........

    and yes, of course there are ways around it,......... but that isnt the point

    ta

    rolf
     
    Rolf Latham, 14th Apr, 2018
    #41
    Ethan Timor, Peter_Tersteeg and Jess Peletier like this.
  2. Jess Peletier

    Jess Peletier Mortgage Broker & Finance Strategy, Aus Wide! Business Member

    Joined:
    18th Jun, 2015
    Posts:
    6,678
    Location:
    Perth WA + Buderim Qld
    Agree - it’s a tricky one. And ways around it is a PITA for clients - more poor outcomes.
     
    Jess Peletier, 14th Apr, 2018
    #42
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