Some of Australia’s largest superannuation funds say banks should be allowed to give limited financial advice related to banking products, urging policymakers to pave a way for them to re-enter advice after the royal commission forced them out amid myriad conflicts of interest.
Speaking at The Australian Financial Review Super & Wealth Summit , representatives of AustralianSuper, Rest and AMP questioned the government’s choice to exclude the banks from the institutions that can give financial advice using a new, less-qualified class of financial advisers.
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