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independence of financial planners

Discussion in 'Financial Planning' started by newcomer, 10th Feb, 2010.

  1. newcomer

    newcomer New Member

    Joined:
    9th Feb, 2010
    Posts:
    4
    Location:
    Melbourne
    Financial planners have recently received some bad publicity.

    Amongst other things, they have been accused of flogging products for which they receive a commission from 3rd parties but which are not in the best interests of their clients.

    I invite opinions as to what percentage of financial planners in our country are truly independent, in a sense that they operate solely on a fee for service (not counting those who say they operate solely on fee for service, but actually charge commissions).

    If you know an independent planner, I would love to hear from you with details.