The Hayne Royal Commission and Financial Planning Advice: A Review of the Impact on the Operating Model of Financial Advice Firms

Abu-Taleb Mohammad (), Rashid Afzalur and Shams Syed
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Abu-Taleb Mohammad: University of Southern Queensland, Toowoomba, Australia

Financial Planning Research Journal, 2020, vol. 6, issue 1, 74-87

Abstract: The recommendations of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry outlined a new approach to disclosure, review and remuneration practices of the financial planning industry. Drawing from academic articles and industry analysts, the Financial Services Royal Commission is likely to have a significant impact on the financial planning industry and the operating model of financial advice firms, which requires the redesign of financial advice business and delivery models. This paper provides some evidence of the changes in the operating model of financial advice firms after the enactment of the Royal Commission’s recommendations. We also identify gaps in the literature and highlight some important research issues that provide directions for future research.

Keywords: Hayne Royal Commission; financial planning advice; operating model; re-design (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:finprj:v:6:y:2020:i:1:p:74-87:n:1004

DOI: 10.2478/fprj-2020-0004

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