While advisers have clearly indicated their concerns over a client opt-in structure under Future of Financial Advice reform proposals, they have voiced little to no objection over the proposed introduction of a statutory fiduciary duty requirement that advisers act in the best interests of their client.
Our latest poll questions asks:
The Future of Financial Advice reform proposals look set to dominate the issues agenda for the financial services industry in 2011. Debate will end and recommendations will become legislation.
We want to know about the issue that concerns you most. Of all the FoFA reform proposals and other industry issues, which is the one issue for you that will [...]
Following the announcement that the United Kingdom is to introduce standard TPD definitions next year, we ask whether this could be the fore-runner of change in the Australian life insurance market.
In the ongoing debate over whether risk commissions should be banned, many advisers have suggested that if all commissions are made standard, this will eliminate or substantially remove any conflict of interest, real or perceived.
Do you agree with this view?
Our latest poll question asks:
Do you support standardising commissions for risk products?
While the question is simple, the [...]
Speculation about the future for risk commissions continues. Within an environment where the majority of advisers believe the returned Labor Government signals a probable downturn in the future value of their practice, our latest poll is asking a simple question:
If risk commissions are banned, what will you do?
The results from our most recent poll clearly indicated [...]
During the recent Federal election campaign, our poll revealed the vast majority of financial advisers would prefer to see the Coalition form government.
But with the return of the Labor Government finally confirmed, our poll question this week is:
As we await the outcome of the closest federal election in recent history, we look ahead to one of the areas that would be impacted if risk commissions are banned.
Our latest poll question is:
If risk commissions are banned, will your practice charge a fee for providing your services at claim time?
If the Labor Government is returned, we will [...]
In the midst of the Federal Election campaign, we are asking advisers to consider which party they believe will better serve the diverse interests of the financial services industry if they win Government.
Our poll question is:
What will be the impact on insurance premiums if risk commissions in superannuation are banned?
Early adviser responses to the Cooper Review recommendation to ban risk commissions in super, suggest there will be a substantial and adverse impact on consumers, advice practices, tax payers and social welfare payments.
All of these areas, such as the impact on the viability of many advice [...]
Financial advisers have been highly critical of the move to consider banning risk insurance commissions, but the issue of conflict of interest remains.
Our latest poll question asks:
Do you believe payment of commissions on risk products represents a conflict of interest to the consumer, real or perceived?
Our poll is based around statements made by the Financial Services Minister, [...]
