While industry super funds lost their battle against the big banks over the federal Government’s FoFA rollback, they’ve come out swinging in a new TV commercial, released today, which reminds consumers of the commissions paid for financial advice.
The ad finishes with the line “no sales incentives”, arguing in favour of industry super.
It challenges both the banks and the Government’s changes and Industry Super Australia boss David Whiteley isn’t holding back.
“Despite financial planning scandals at two prominent banks, the banks have successfully lobbied the Government to water down consumer protections in financial advice, including the requirement for financial advisers to act in their client’s best interests and to bring back a range of sales incentives,” he said.
The campaign will also feature in print, digital and outdoor.