May 27, 2019
The Association of Financial Advisers and the Financial Planning Association have agreed to work together in their efforts to advocate for the retention of life insurance commissions beyond ASIC’s 2021 Review of the impact of the Life Insurance Framework reforms.
The purpose of the taskforce is to …deliver a single and united message to the Government
The purpose of the bipartisan taskforce is to ensure that the two major associations representing the voice of financial advisers deliver a single and united message to the Government and its regulators on the value of advice and what they believe is the critical importance of the perpetuation of life insurance commissions as a valid form of remuneration.
While the joint association taskforce has yet to convene, advisers have been made aware of this initiative during the recent FPA roadshow series.
Riskinfo understands the combined advocacy group will have an equal representation from both associations and that it will meet shortly to establish its agenda and the key messages it will be delivering to the returned Coalition Government, the Federal Opposition, the regulators and the life insurance companies.