{"id":29432,"date":"2015-04-21T16:12:41","date_gmt":"2015-04-21T06:12:41","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=29432"},"modified":"2015-04-21T16:12:41","modified_gmt":"2015-04-21T06:12:41","slug":"go-with-hybrid-advisers","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/04\/21\/go-with-hybrid-advisers\/","title":{"rendered":"Go With Hybrid – Advisers"},"content":{"rendered":"
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My advice practice could successfully operate under a hybrid commission model for life insurance advice.<\/strong><\/div>
    \n\t\t
  • Agree (82%)<\/small>
    <\/div><\/li>\n\t\t
  • Disagree (12%)<\/small>
    <\/div><\/li>\n\t\t
  • Not sure (6%)<\/small>
    <\/div><\/li>\n\t\t<\/ul>
    <\/div><\/div>\n\t\t\n<\/div>\n\n

    There is widespread acceptance by advisers that a hybrid commission model would deliver a sustainable commercial future for their business.<\/p>\n

    In a poll designed to consider alternative remuneration options to those advocated by John Trowbridge<\/strong>, 79% of advisers have said they agree with the statement that “My advice practice could successfully operate under a hybrid commission model for life insurance advice.” As we go to print, only 14% of poll respondents disagree with this statement, while 7% are undecided.<\/p>\n

    This response by advisers to our poll has been accompanied by a release this week by AFA President, Deborah Kent<\/strong>, who commented that the AFA completely rejects “… the principle that an advice business should be expected to subsidise advice to the client to prove it is in the client\u2019s best interests.”<\/p>\n

    Working below cost will see an exodus of advisers from providing life insurance advice<\/h6>\n

    Warning the industry about the unintended consequences of such a remuneration model, Ms Kent continued, “Working below cost will see an exodus of advisers from providing life insurance advice \u2013 and that would be a catastrophe for the Australian public, and a disaster for the future of life insurers.”<\/p>\n

    Meanwhile, one adviser commenting on our poll advocates that only level commissions should be paid for replacement business, but that a hybrid level of commission be paid on all new business:<\/p>\n

    “Replacing a policy ie. life insurance to another life insurance policy \u2013 level. New policy, new premium ie. not replacing another policy eg. a new life insurance or new trauma policy that the client does not have in place \u2013 hybrid.”<\/em><\/p>\n

    Does this approach reflect your view? Or do you support another solution? Either way, you have another week to have your thoughts count in this poll…<\/p>\n","protected":false},"excerpt":{"rendered":"

    There is widespread acceptance by advisers that a hybrid commission model would deliver a sustainable commercial future for their business.<\/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-29432","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\/29432","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=29432"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/29432\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=29432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=29432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=29432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}