Chanticleer
Time mortgage broker commissions were revisited
Chanticleer is Australia's pre-eminent business column.
The hedge fund guys who uncovered serious weaknesses in the commission-driven mortgage broking business that underpins the residential mortgage market have done the country a positive service.
Mortgage broking is one of the last bastions of unethical sales practices. Regulatory crackdowns have cleaned up the financial planning industry and should soon remove the incentives for bad behaviour in life insurance.
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