The retail financial services research and marketing company Infochoice has defended its decision not to put a financial services guide on its website, despite having received a financial services licence this month.
According to a story in this morning's
Herald Sun, Infochoice's main competitors Mozo and Canstar Cannex publish financial services guides that give details of the fees and commissions paid to them by financial institutions.
According to the report, Infochoice managing director Shaun Cornelius said the company's legal advice was that it did not need to publish a financial services guide.
Like Mozo and Rate City, Infochoice provides product comparison tables on its site, plus general consumer advice and links to financial institutions' sites for consumers who want to buy online.