Congratulations EY on a to the point and informative web briefing on the Banking and Financial Services Royal Commission.

Some really key points that I noted that are relevant in wealth management:

Fee for service threatened viability

Oversight controls mandatory – significant compliance hcllenge

Opportunity for independent quality robust models

Value of advice questioned

Non-tolerance of poor customer outcomes

Those who can get culture, governance and remuneration right will lead – first mover advantage

Focus on How Not What