Recently, the federal government introduced a package of reforms known as the Future of Financial Advice - FoFA for short. Among other things, the package bans trailing fees and other commissions for new investments in retail investment products from 1 July 2013. That's good news for investors!
Unfortunately, the reforms don't cover existing investments - so even after 1 July 2013, you could find yourself paying hidden commissions on managed funds. That means TrailCap can still save you money.