Fiduciary duty – did one formerly apply [and if one didn’t, why did one not]? Commissions are received in many industries, more than most people realise. To some extent – and in most instances – it is nothing more than capitalism. Sure, when it comes to someone’s life savings there is more at stake, no one would argue with this. It is hardly original when I say that I would like to see ASIC given greater regulatory power – advisers who do not put their clients’ interests first should not be granted a second chance. The skeptic in me questions the value of most advice as commission-driven, but all forms of remuneration are open to abuse. The advent of the internet empowers the consumer though. With so much information now freely available consumers are more able to choose how and when they pay for advice, and this in itself puts should put advisers on notice – fail to add value at your peril. I did come across one informative website on life insurance recently. This is hardly a unique illustration though; so many similar examples exist. So, back to the point of this post. Find a professional financial adviser that you are comfortable with and confident in. Advisers should be able to justify their existence and remuneration, irrespective of whether it be commission or an hourly rate.