The head of a leading wealth management business accused Labor of being weak on consumer protection by allowing risky products with hidden commissions of up to 8 per cent to be sold to a potential pool of 3.3 million Australians.
Cameron Harrison managing partner Paul Ashworth said it was essential that the federal government stop dithering and lift the threshold of the so-called sophisticated, or wholesale, investor test before “things go pear-shaped”.
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