On January 1, all licensed financial advisors in the U.K. were required to adopt a fee-for-service model. And in July, the same will go for advisors in Australia. That means selling a product and getting a commission on the sale is verboten. Aite Group calls it the most significant change taking place in the global financial advice industry this year, as highlighted in a recent report from the Boston-based research firm entitled Top 10 Trends in Wealth Management, 2013.
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