Jerry Parwada

A person seeks financial advice from professional financial planner

Establishing a long-term relationship with a financial planner can help to reduce fraud within the community, finds a UNSW Business School study.

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Customers will still not be sure they are receiving independent financial advice unless the industry goes further than the royal commission's recommendations, says UNSW Business School Professor Jerry Parwada.

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The system to rank financial advisers would help consumers avoid the high cost of bad advice, says UNSW Business School Professor Jerry Parwada.