Dover Financial's Terry McMaster leaves the royal commission

A question that has repeatedly been asked at the financial industry royal commission is whether financial planning is a "profession". No one's been willing to give an unqualified "yes", but there have been a few guardedly optimistic answers; one witness described it as "an emerging profession". It's clear from this week's hearings, however, that even if there are a number of independent, quality planners who place their clients' interests first, financial planning is a very long way from being a profession, and we've been fooling ourselves about how close it is.