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Royal commission turns spotlight on planners

The royal commission on financial services misconduct will focus on financial planning and wealth management in its second round of public hearings, starting next Monday.

Scheduled topics include fees for no service, investment platform fees, inappropriate financial advice, improper conduct by advisers and the disciplinary regime, with case studies to involve the big four banks, AMP and the Australian Securities and Investments Commission.

Hearings will run until April 27 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.

The royal commission had received 3254 submissions by April 6, with 69% related to banking, 9% to superannuation and 7% financial advice.