{"id":29718,"date":"2015-05-19T19:32:20","date_gmt":"2015-05-19T09:32:20","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=29718"},"modified":"2015-05-20T07:02:55","modified_gmt":"2015-05-19T21:02:55","slug":"advisers-support-amp-centrepoint","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2015\/05\/19\/advisers-support-amp-centrepoint\/","title":{"rendered":"Advisers Support AMP, Centrepoint"},"content":{"rendered":"<div id=\"polls-142\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>Do you generally support the AMP and Centrepoint Alliance initiatives to move to a hybrid commission structure?<\/strong><\/div><div id=\"polls-142-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Yes <small>(65%)<\/small><div class=\"pollbar\" style=\"width: 65%\" title=\"Yes (65% | 202 Votes)\"><\/div><\/li>\n\t\t<li>No <small>(30%)<\/small><div class=\"pollbar\" style=\"width: 30%\" title=\"No (30% | 95 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(5%)<\/small><div class=\"pollbar\" style=\"width: 5%\" title=\"Not sure (5% | 16 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_142_nonce\" name=\"wp-polls-nonce\" value=\"145b90b237\" \/>\n<\/div>\n\n<p>Two in three advisers support the recent initiatives from AMP and Centrepoint Alliance to dispense with higher upfront commissions in favour of offering only hybrid or level commissions in future.<\/p>\n<p><!--more-->While the current poll results indicate 67% of advisers support of the case for hybrid, as outlined by AMP and Centrepoint, we also note that only last month, as many as 82% of advisers said their advice practice could successfully operate under a hybrid commission model for life insurance advice (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2015\/04\/21\/go-with-hybrid-advisers\/\">Go With Hybrid &#8211; Advisers<\/a>).<\/p>\n<p>We sense there is &#8216;resigned&#8217; support by advisers for the hybrid model. We sense there are many advisers, potentially the majority, who believe in the integrity and quality of the advice they deliver &#8211; that they are victims of the sins of a few, and that they should continue to have access to high upfronts. As one adviser commented:<\/p>\n<p><em>&#8220;What began as an investigation into poor advice in the risk insurance sector (the ASIC Review of Retail Life Insurance Advice), is now centred around remuneration.&#8221;<\/em><\/p>\n<p>This adviser is reinforcing a point made by many during this debate, namely that the ASIC Review was mostly focused on the quality of advice, rather than on adviser remuneration. In its report, the regulator explored the link between high upfront commissions and the quality of advice, which was in turn examined by <strong>John Trowbridge<\/strong>, leading to his support for a level commission model that would, in his view, successfully address the issue of conflicted advice.<\/p>\n<p>Since we released our latest poll last week, <strong>Ray Miles<\/strong>&#8216; Fortnum Financial Advisers dealer group has also announced it is moving to hybrid\/level commission or fee for service remuneration options only (see: <a href=\"https:\/\/riskinfo.com.au\/news\/2015\/05\/19\/fortnum-removes-upfronts\/\">Fortnum Removes Upfronts<\/a>).<\/p>\n<p>This is a fluid debate, which continues to move towards an eventual outcome &#8211; an outcome that has yet to be resolved. This is why your opinions count, as we continue to encourage you to make your voice heard on this critical issue&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two in three advisers support the recent initiatives from AMP and Centrepoint Alliance to dispense with higher upfront commissions in favour of offering only hybrid or level commissions in future.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[48,8,6,49,270],"tags":[],"class_list":{"0":"post-29718","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-company-news","7":"category-compliance-regulation","8":"category-dealer-groups","9":"category-polls","10":"category-remuneration"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/29718","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=29718"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/29718\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=29718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=29718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=29718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}