Category | Remuneration

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ASIC Response to Royal Commission – Grandfathering and Risk Commissions

ASIC has has released an update on its intentions to implement the recommendations of the Banking Royal Commission, which includes its approach to grandfathered investment and superannuation product commissions and to life insurance commissions. (more…)

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1 · February 19, 2019 in Compliance & Regulation, Remuneration  
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Level Commission Poll Results

Advisers are divided on whether they think their business will remain viable if forced into a level commission remuneration model for life insurance advice after 2021. (more…)

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2 · February 19, 2019 in Compliance & Regulation, Polls, Remuneration  
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Errors, Misunderstandings, Bias in Royal Commission Recommendations on Risk Commissions – AFA

The Association of Financial Advisers has released a scathing analysis of the Banking Royal Commission’s recommendations on the future of life insurance commissions, arguing that Commissioner Hayne’s risk commission recommendations contain errors, misunderstandings and are based on an ideological bias. (more…)

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11 · February 19, 2019 in Compliance & Regulation, Remuneration  
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Level Commissions – Really?

Our latest poll has been driven by the Government’s statement that it will mandate level commissions for life insurance advice if ASIC’s 2021 review finds that the Life Insurance Framework remuneration reforms have not had the desired impact on ‘aligning the interests of advisers and consumers’. (more…)

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23 · February 12, 2019 in Compliance & Regulation, Polls, Remuneration  

AFA Stands Firm on Risk Commissions

The Association of Financial Advisers has strenuously opposed what it refers to as the ideological determination put forward in the Banking Royal Commission final report to remove all conflicted remuneration. (more…)

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8 · February 8, 2019 in Associations, Compliance & Regulation, Remuneration  

Government to Consider Mandating Level Commissions for Risk

The Federal Government  is contemplating the implementation of a flat life insurance commission structure in future, pending the outcome of ASIC’s review of the Life Insurance Framework reforms, due in 2021. (more…)

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19 · February 6, 2019 in Compliance & Regulation, Remuneration  
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Royal Commission Flawed Rationale on Risk Commissions?

The Banking Royal Commission has recommended that the current cap on life insurance commissions should eventually reduce to zero, unless there is clear justification for retaining those commissions. But is the basis of this recommendation flawed? (more…)

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19 · February 5, 2019 in Compliance & Regulation, Remuneration  

Royal Commission Casts Doubt on Future of Risk Commissions

The Banking Royal Commission has cast a giant shadow over the long-term future of life insurance commissions. (more…)

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40 · February 4, 2019 in Compliance & Regulation, Remuneration  
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2019 Tougher for Risk Advice Businesses

The results from our latest poll suggest most advisers and their practices will do it tougher in 2019, as year two of the Life Insurance Framework reform processes get rolling. (more…)

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1 · January 14, 2019 in Compliance & Regulation, Polls, Remuneration  
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Royal Commission Placing Pressure on Business Valuations

Financial advisers with smaller risk books are looking to exit the market as soon as possible, fearing an impact on business valuations from the Financial Services Royal Commission, according to one business broker. (more…)

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0 · January 7, 2019 in Practice Management, Practice Marketing, Remuneration