The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms

Abu-Taleb, Mohammad and Rashid, Afzalur and Shams, Syed (2021) The Hayne Royal Commission and the financial planning advice: A review of the impact on the operating model of financial advice firms. Financial Planning Research Journal, 6 (1). pp. 74-85. ISSN 2206-1347


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.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Faculty/School / Institute/Centre: Current - Faculty of Business, Education, Law and Arts - School of Business (18 Jan 2021 -)
Date Deposited: 09 Jun 2021 01:43
Last Modified: 20 Oct 2021 01:21
Uncontrolled Keywords: Hayne Royal Commission; financial planning advice; operating model; re-design
Fields of Research (2008): 15 Commerce, Management, Tourism and Services > 1502 Banking, Finance and Investment > 150299 Banking, Finance and Investment not elsewhere classified
Fields of Research (2020): 38 ECONOMICS > 3899 Other economics > 389999 Other economics not elsewhere classified
URI: http://eprints.usq.edu.au/id/eprint/42171

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