- Commission (63%)
- Adviser Choice (18%)
- Client Choice (12%)
- Fee For Service (6%)
- Not Sure (1%)
There has been much debate between industry participants over the question of how financial planners and advisers should be paid for the services they provide.
For the purpose of our latest poll, riskinfo is confining this question to the sale of life insurance products only.
Proponents of the ‘fee for service’ model argue that it doesn’t matter what type of financial product is being recommended or sold; for an adviser to act truly in the interests of their client, they must charge a fee for the advice they provide that is totally separated from the selection of the product or products that will best serve the client’s needs.
Those who argue for the maintenance of commission structures maintain that this is a fair and valid method of payment that is clean, simple, fully disclosed to, and accepted by, the client.
The intention of this poll is to obtain the current ‘mood of the meeting’ amongst advisers and dealer groups. So, let us know where you stand on this issue. We will report back you you on our findings and provide you with feedback from those with very definite opinions on this question.
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Well said Peter, a wonderful meeting and was great to spend some time in Vancouver with you. A great comment above that EVERY serious adviser in Australia should attend at least 1 annual meeting. NOW is the time to start preparing for 2017 Orlando ???? Congrats to all the first time Aussies that attended Vancouver, friendships for life have been made and an abundance of take away ideas for all advisers here in Australia that attended this once in a lifetime meeting
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