Is it really all about transparency?

The following is a quote taken from a recent Preet Banerjee article from the online Money website.

“But it should be noted that advisers can achieve transparency in a commission model simply by being transparent. If they take the time to break down the costs and embedded compensation that commissioned products carry, they fulfill the ultimate expectation of consumer advocates: providing investors with informed choice.”

Unfortunately this is about as far from the ultimate expectation of consumer advocates as the earth is from the centre of the Milky Way, and Preet’s logic is as about as mind boggling as the inestimable distance between the two.

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