AMP chairman David Murray was formerly on the advisory board of Bux Global

Every so often you'll read a story about how Australians are terribly underinsured when it comes to life insurance. Such stories originate, unsurprisingly, with insurance companies. The scare stories don't work, however, and Australians continue to blithely go about their business, uninterested in the purported dangers of being underinsured. The only reliable means of getting them to fork out for life insurance is to opt them into life policies as part of their superannuation and hope they don't notice.

David Murray, of the financial services inquiry and, soon, "beleaguered" AMP, is similarly trying to scare people with his warning that the banking royal commission shouldn't do anything that might make it more difficult or expensive for people to access financial advice, and shouldn't take any action against the vertically integrated -- or, as you might also call it, conflicted -- model of financial planning and wealth management.