A bonus in Shorten's FoFA compromise

Bill Shorten's decision to land FoFA legislation with a compromise on opt-in requirements may, curiously, enable the financial services industry to evolve more quickly towards professionalism.

It will take a while for the dust to settle on the Future of Financial Advice reform package, which passed the House of Reps last night after negotiations between the independents and Bill Shorten.

However, despite press reports to the contrary, the compromise agreed appears to preserve the critical opt-in requirement for financial advice fees.

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