tag:blogger.com,1999:blog-7115935.post115434046299298908..comments2023-12-01T11:40:00.045+11:00Comments on Dikkii's Diatribe: Why AMP got bustedDikkiihttp://www.blogger.com/profile/07897381809885423712noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7115935.post-1155471424149336762006-08-13T22:17:00.000+10:002006-08-13T22:17:00.000+10:00Thanks Richard, and very nice to hear from you.The...Thanks Richard, and very nice to hear from you.<BR/><BR/>The struggle between <B>ethical/legal business practises</B> and the <B>quest for sales</B> reminds me of that scene from the Simpsons where Homer talks about, <I>"The struggle between good and evil that cannot be resolved."</I><BR/><BR/>While he's talking, a <B>thought bubble</B> pops out of his head with Homer in a devil suit shaking maracas and dancing on a grave clearly marked as "Good Homer". Homer-in-the-devil-suit is, meanwhile, singing, <I>"I am Evil Homer! I am Evil Homer!..."</I><BR/><BR/><B>Genius.</B> The scene, I mean.<BR/><BR/>Anyway, I can <B>empathise</B> with what your business is going through.<BR/><BR/>BDM's? Agree <B>100 percent</B>.<BR/><BR/><B>Independent</B>? Well, you have to be careful in Australia, because the term "independent" is enshrined in law under the Corporations Act. But yeah, <B>no one is fully independent</B>.<BR/><BR/>However, I like to believe that some are <B>closer</B> to true independence <B>than others</B>. <B>Fee-for-service</B> is one way that some advisers are achieving this.<BR/><BR/>Nice to hear from you, Richard. Please <B>feel free</B> to returnDikkiihttps://www.blogger.com/profile/07897381809885423712noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-1155236268433588762006-08-11T04:57:00.000+10:002006-08-11T04:57:00.000+10:00Very cogent analysis, Dikkii. I work for an outsou...Very cogent analysis, Dikkii. I work for an outsourcing firm which has just recently taken over the processing of high-value mortgage business from a bank owned by the National Australia Bank. Their idea of compliant-business practice is far removed from what my organisation has been used to, and has created a large gulf in management methodology which is increasingly difficult to bridge. In terms of BDM's, they are glorified sales facilitators whose seemingly only purpose is finding new and more innovative ways of bypassing compliance regulations, accelerating applications, without due respect for money-laundering regulations, and simplifying brokers' jobs to the point of minimalism. <BR/><BR/>Of course any sensible consumer would always consult a fully independant financial advisor, rather than a tied or multi-tied broker, however much of the general population are novices in terms of their knowledge of the financial services industry. The other aspect plainly is that there really is no such thing as a fully independant financial advisors as they ALL have variegated agendas, corporate relationships, and the finger on the pulse of what is occuring in the financial markets. Nonetheless I agree with the substance of your post.Richard Dawkinshttps://www.blogger.com/profile/00043683685568209698noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-1154650487594647882006-08-04T10:14:00.000+10:002006-08-04T10:14:00.000+10:00Thanks Ted.Nice to know that it's appreciated.Thanks Ted.<BR/><BR/>Nice to know that it's appreciated.Dikkiihttps://www.blogger.com/profile/07897381809885423712noreply@blogger.comtag:blogger.com,1999:blog-7115935.post-1154518506712617532006-08-02T21:35:00.000+10:002006-08-02T21:35:00.000+10:00Good one Dikkii. I liked the way you took it apart...Good one Dikkii. I liked the way you took it apart.<BR/><BR/>You made some very good points and once again, have cleared the muddied waters of finance a little more for me...:)<BR/><BR/>(wish I could do <B>this</B> on Whitepage...)Anonymousnoreply@blogger.com