{"id":4541,"date":"2010-01-19T15:51:13","date_gmt":"2010-01-19T05:51:13","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=4541"},"modified":"2010-01-19T16:48:26","modified_gmt":"2010-01-19T06:48:26","slug":"fees-for-investment-advice-commissions-for-risk","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/01\/19\/fees-for-investment-advice-commissions-for-risk\/","title":{"rendered":"Fees for Investment Advice, Commissions for Risk?"},"content":{"rendered":"

\"Vote<\/a><\/p>\n

Should advisers be required to charge a fee for their investment and superannuation advice, but still be able to access commissions on risk products?<\/p>\n

Our latest riskinfo poll asks:<\/p>\n

In future, do you support commissions being paid to advisers\u00a0for life insurance products only?<\/em><\/strong><\/p>\n

Adviser and\u00a0other industry opinion on the issue of commissions appears to fall into three main categories:<\/p>\n

    \n
  1. Retain commission as a remuneration option across all financial products<\/li>\n
  2. Retain commission for risk products only<\/li>\n
  3. Abolish all remuneration by commission<\/li>\n<\/ol>\n

    Based on adviser comments from previous polls and other industry feedback, there is a proportion of advisers who argue that remuneration on the\u00a0sale of life insurance products\u00a0should be considered as separate from the broader debate over payment for\u00a0investment and other financial\u00a0advice.<\/p>\n

    This point of view is supported by a number of life\u00a0companies, by the Financial Planning Association<\/a> (FPA), and by the Ripoll Inquiry itself, where Mr\u00a0Ripoll has previously confirmed to riskinfo that life insurance products should\u00a0be considered separately in this debate.<\/p>\n

    Many in favour of completely abolishing commissions\u00a0argue that the financial advice sector has been tainted by issues, both real and perceived, as a result of commission payments, and that removing commissions entirely will allow the industry to move to a more ‘professional’ standing.<\/p>\n

    Meanwhile, the argument in support of retaining consumer choice is best expressed by the Association of Financial Advisers<\/a> (AFA), which holds that the question of how advisers should be paid is for the adviser and his\/her client to determine, as long as there is full disclosure.\u00a0 The AFA has long argued this debate should be about the value and quality of advice and its price, rather than\u00a0simply about how the price should be\u00a0paid.<\/p>\n

    The outcome of this debate is yet to be determined, with the Ripoll Inquiry recommending that the financial services industry and its regulators collaborate on the issue of adviser remuneration.\u00a0 This is why your opinion is more important than ever.<\/p>\n

    What is your view?\u00a0 Should commission be retained for risk products only?\u00a0 Should commission be abolished all together?\u00a0 Or should commissions continue to be allowed as a remuneration option for all financial advice?<\/p>\n

    Have your say.\u00a0 Add your comments.\u00a0 Make your voice heard.<\/p>\n

    \"Vote<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Should advisers be required to charge a fee for their investment and superannuation advice, but still be able to access commissions on risk products?<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49,270],"tags":[],"class_list":["post-4541","post","type-post","status-publish","format-standard","category-polls","category-remuneration"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/4541","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=4541"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/4541\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=4541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=4541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=4541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}