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Peter Kell

“There is inherently a conflict between manufacturing a product and supplying a product but then having an advice network or advisers who are supposed to be providing advice in the best interests of the clients.”

Former ASIC Deputy Chairman Peter Kell.

In theory, it’s possible to manage the fundamental conflicts at the heart of vertically integrated businesses. In practice, as the Banking Royal Commission has found, the clients’ interests simply don’t seem to matter.

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