Advisers have zeroed in on the commission debate as the key issue stemming from the 11 Recommendations handed down by the Ripoll Inquiry into Financial Products and Services in Australia.
Recommendation 4, on ‘ceasing payments from product manufacturers to financial advisers‘, has attracted the most interest from the advisers. 71% of respondents in the latest riskinfo poll support some, but not all, of the Inquiry’s recommendations, with the most opposition, based on comments received, being directed at Recommendation 4.
We are now asking advisers a more specific question:
Do you support Ripoll Inquiry Recommendation 4, regarding ceasing payments from product manufacturers to financial advisers?
We qualify this poll question by making an assumption that Recommendation 5, on the future tax deductibility of financial advice, will be implemented.
Make your voice heard by voting on this question and add your comments. Tell us what you think, bearing in mind the industry and government are being encouraged to consult with each other to develop a solution to the ‘adviser remuneration question.’
payments from product manufacturers to financial advisers: does this refer to rebates, trails as well as assets under management fee?
I agree that those which are not 100% transparent to client should be removed. However some of these payments are and some not.
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