LICs hit back at ASIC’s secret advice to Frydenberg (AFR 03/01/20)

For a number of years now at Hamilton Wealth Partners, we have opposed participating in the issuance of Listed Investment Companies (LICs) and Listed Investment Trusts (LITs).

The main reason being the stamping fee’s or selling fee’s. We charge our clients an advice fee only, and we avoid any form of conflicted advice or remuneration.

It interesting but we believe the majority of our industry are positioned the same way as us, yet the minority are large participants in this practice, becuase of a loop hole that allows it.