Conceptualising Financial Advice in Australia: The Impact of Business Models and External Stakeholders on Client’s Best Interest Practice

: Many individuals entrust financial advisors to navigate through important financial decisions, yet extant research and persistent scandals bring the effectiveness of advice into question. In examining the Australian financial advice sector, we determine when financial advice can be provided in a client’s best interest and formulate a model differentiating types of financial advice and their relationship to best interest practice. We extend...