This blog post HERE was written more than a year ago. At that time, it was thought that the regulator was merely a passive creature who wouldn't even dare to toy the idea of banning commission. The comments made below that post showed that consumers just cannot wait for commissions to be banned so that consumers will really pay for advice than to ask for 'free' advice which has made the entire system to what it is today. At this point of writing, our regulator is toying with the idea of following the footsteps of UK and Australia in which commissions will be outlawed. This is quite a significant change in mindset of our government.

I've spoken to a number of seasoned but very competent advisers. Many have already left or are thinking of leaving the industry because they have given up on consumers who refused to pay them for ...