{"id":29288,"date":"2015-04-07T20:55:24","date_gmt":"2015-04-07T09:55:24","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=29288"},"modified":"2015-04-07T21:01:03","modified_gmt":"2015-04-07T10:01:03","slug":"trowbridge-reform-remuneration-model","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/04\/07\/trowbridge-reform-remuneration-model\/","title":{"rendered":"Trowbridge Reform Remuneration Model"},"content":{"rendered":"<div id=\"polls-138\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Will the Trowbridge Reform Model remuneration proposal (level commissions supplemented by an Initial Advice Payment) sustain a viable advice practice?<\/strong><\/div><div id=\"polls-138-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>No <small>(87%)<\/small><div class=\"pollbar\" style=\"width: 87%\" title=\"No (87% | 860 Votes)\"><\/div><\/li>\n\t\t<li>Yes <small>(8%)<\/small><div class=\"pollbar\" style=\"width: 8%\" title=\"Yes (8% | 80 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(5%)<\/small><div class=\"pollbar\" style=\"width: 5%\" title=\"Not sure (5% | 50 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_138_nonce\" name=\"wp-polls-nonce\" value=\"51e2e5637e\" \/>\n<\/div>\n\n<p>Last week&#8217;s poll asking for your views on the Reform remuneration model for advisers proposed by <strong>John Trowbridge<\/strong> has triggered the biggest-ever response to a riskinfo poll.<\/p>\n<p><!--more-->This poll, and this remuneration debate, are both &#8216;last chances&#8217;.\u00a0 Most importantly, Mr Trowbridge has labelled his package of recommendations, released following a consultation process with the joint FSC\/AFA working group, as a &#8216;last chance&#8217; for the life insurance industry to self-regulate before the Government intervenes to impose its own new rules on the sector. It appears to be widely accepted by many industry stakeholders that this is exactly what will happen if the industry does not use the recommendations in the Trowbridge Final Report as an opportunity to develop a consensus approach to addressing the issues that have plagued the sector.<\/p>\n<p>&#8230; And it&#8217;s also your last chance to make your voice count in this poll before we move on to another topic (but one which will probably focus on another &#8216;Trowbridge&#8217;-related issue).<\/p>\n<p>For those who have yet to add their vote, we&#8217;d love you to do so, while we encourage all advisers to add your reasoned thoughts and ideas to the substantial body of comments we have already received from many hundreds of advisers, about how you believe your remuneration should be structured in future (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2015\/03\/31\/adviser-thumbs-down-to-trowbridge-reform-model\/\">Adviser Thumbs-down to Trowbridge<\/a>&#8230; and <a href=\"https:\/\/riskinfo.com.au\/news\/2015\/03\/26\/20-flat-commissions-trowbridge\/\">20% Flat Commissions&#8230;<\/a>).<\/p>\n<p>As we go to print, the vast proportion of the huge volume of votes we have received (87%) have rejected the notion that a 20% flat commission, supplemented by a $1,200 Initial Advice Payment, will translate into a viable business model for a risk-focused advice practice (or any advice practice).<\/p>\n<p>But as important as it is to register your opinion on this proposal, it is equally important to articulate your preferred alternative, which will range from calls to retain the status quo through to how a fee for service model might work in future.<\/p>\n<p>riskinfo is YOUR publication and we hope you will add your voice to this critically-important debate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last week&#8217;s poll asking for your views on the Reform remuneration model for advisers proposed by John Trowbridge has triggered the biggest-ever response to a riskinfo poll.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49,270],"tags":[],"class_list":{"0":"post-29288","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-compliance-regulation","7":"category-polls","8":"category-remuneration"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/29288","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=29288"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/29288\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=29288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=29288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=29288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}