The Truth Will Set You Free .....
To prevent the downright theft by these financial advisers or financial planners, there needs to be put in place a plan too protect investors from fraud and the loss of their money invested into poncy fraudulent schemes, but what does the Liberal Party "Abbott Government do! They want to scrap financial advice laws that were put in place under the previous Labor Government that would protect investors from total financial loss by some shady operators. Apparently to become a financial adviser, all one has to do is an eight day course to obtain a license to invest someones money into their poncy shares that leave you nothing but the empty feeling of been scammed. Forget super schemes, why not Passbook Accounts instead?
There needs to be a "Liability Law" that protects investors from total loss caused by these shady dealers and conman that prey on vulnerable gentile victims who mortgage their home to borrow money from the banks margin loan scam and then defraud them of their cash and assets because the banker sells their shares and leave their suckers or customers penniless.
All financial advisers or planners by law should have Liability Insurance to cover their client loss because of their negligence, a negligent act involves failure to behave in a manner expected when the results of this failure cause a financial loss to others.