{"id":24812,"date":"2014-02-04T18:05:20","date_gmt":"2014-02-04T08:05:20","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=24812"},"modified":"2014-02-04T18:05:20","modified_gmt":"2014-02-04T08:05:20","slug":"aligned-versus-non-aligned-advice","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2014\/02\/04\/aligned-versus-non-aligned-advice\/","title":{"rendered":"Aligned Versus Non-Aligned Advice"},"content":{"rendered":"<div id=\"polls-113\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Should the term 'financial advice' be classified as either 'aligned' or 'non-aligned'?<\/strong><\/div><div id=\"polls-113-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Yes <small>(74%)<\/small><div class=\"pollbar\" style=\"width: 74%\" title=\"Yes (74% | 68 Votes)\"><\/div><\/li>\n\t\t<li>No <small>(22%)<\/small><div class=\"pollbar\" style=\"width: 22%\" title=\"No (22% | 20 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(5%)<\/small><div class=\"pollbar\" style=\"width: 5%\" title=\"Not sure (5% | 5 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_113_nonce\" name=\"wp-polls-nonce\" value=\"22b29fbd20\" \/>\n<\/div>\n\n<p>Our latest poll asks you to reflect on a suggestion to classify the term &#8216;financial advice&#8217; as either aligned or non-aligned.<\/p>\n<p><!--more-->The question stems from our article this week on issues associated with industry self interest\u00a0(see: <a href=\"https:\/\/riskinfo.com.au\/news\/2014\/02\/04\/consumers-taking-back-seat-to-self-interest\/\">Consumers Taking Back Seat to Self Interest<\/a>), in which Connect Financial Advice Service&#8217;s <strong>Paul Tynan<\/strong> challenges his peers to re-think how the term financial advice should be positioned to the consumer.<\/p>\n<p>Mr Tynan suggests aligned advice exists where the adviser is in a salaried or self-employed position, licensed via a bank or industry fund, and where there is a restriction of ownership of the client.\u00a0 Non-aligned advice, according to Mr Tynan&#8217;s definition, is where the adviser is a self-employed business owner and there is no restriction with respect to client ownership.<\/p>\n<p>The term &#8216;non-aligned&#8217; can be closely associated with the concept of independence, while the term &#8216;aligned&#8217; cannot.\u00a0 But if the client receives appropriate advice, regardless of whether it derives from an aligned or non-aligned source, does the issue then become one based mostly in perception, rather than in reality?<\/p>\n<p>There are a number of issues that can stem from this poll question, not least of which is debating how the terms &#8216;aligned&#8217; and &#8216;non-aligned&#8217; should be defined, whether they should be used at all, and the extent to which the terms would have meaning for the client.<\/p>\n<p>There&#8217;s plenty in this conversation to discuss, and there is no right or wrong answer &#8211; just your opinion.\u00a0 Let us know what you think&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Our latest poll asks you to reflect on a suggestion to classify the term &#8216;financial advice&#8217; as either aligned or non-aligned.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,3,49],"tags":[],"class_list":["post-24812","post","type-post","status-publish","format-standard","category-compliance-regulation","category-general","category-polls"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/24812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=24812"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/24812\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=24812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=24812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=24812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}