The lucrative business of banks selling their customers “financial advice” coupled with financial products has been in the spotlight recently with the events that have shaken up the banking and financial services world. The most notable ones are the investigations of the Royal Commissions into the misconduct of the banking and superannuation industry1 , the misconduct charges of £264 billion fined by EU on the top 20 banks2 , the Wells Fargo fake accounts scandal3 and the nearly 1000 cases of fraud reported to FINRA resulting in a fine of $61 Million
