When it comes to managing our personal debts and credit cards, savings and investing, many people are quick to look for a sequence of simple steps to follow (or a three minute blog to read) to achieve what can usually be a complex outcome.
If a fast solution isn’t found, ‘it's obviously the wrong option’ so we quickly browse on elsewhere looking for that dopamine hit of ‘New’ and never really get to where we need to go.
Well the Banking Royal Commission (aka Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry) closed in early 2019 and 76 recommendations were made spanning the Banking, Superannuation and Insurance industry and the government’s regulators a plenty.
We’ve tried to distill the main themes down to 4 simple points below.
All the depressing and reprehensible details you can read yourself, here .
A personal note from Drew Browne, Founder of Sapience Financial and Investment Services.
Frankly, I'm embarrassed by much of the reported behaviours of big financial services.