so, how many smsf trustees, or sharebrokers saw "it coming"? Just because you run your own smsf, doesn't mean you'll get it right (although a good number do, I feel.
A FP qualifications doesn't teach you how to pick a trend, it isn't part of the subject matter really other than minor references, from memory. Are the planners that kept their clients in cash through 2004 - 2007 "Bad" as well (there were plenty of them)? they tried to pick the trend and lost value for their clients.
It's a roundabout argument and often one that's only won in indsight. I'm not supporting any particular operational model, just saying that sometimes it's not easy to see the car coming until you're looking at the tailights from the ground.
My points above were more in reference to the fee / commission debate. I've seen relative crooks in big banks and small one-hand practices. It's not something that will be easy to fix and still get value for the public.
