{"id":60803,"date":"2022-05-10T13:33:37","date_gmt":"2022-05-10T03:33:37","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=60803"},"modified":"2025-03-14T12:02:26","modified_gmt":"2025-03-14T01:02:26","slug":"door-open-on-80-20-commissions","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2022\/05\/10\/door-open-on-80-20-commissions\/","title":{"rendered":"Door Open on 80\/20 Commissions?"},"content":{"rendered":"
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In what remains an uncertain future for the decreasing number of risk specialist advisers in the Australian market, the ongoing debate around commission levels and the viability of risk-focussed advice businesses generated the most engagement with Riskinfo readers in the week just run…<\/h3>\n<\/div>\n<\/div>\n

The door may be slightly ajar for a returned Coalition Government to reconsider the current commission caps imposed by the Life Insurance Framework reforms.<\/p>\n

Responding to a question put by Riskinfo to Treasurer Josh Frydenberg<\/strong> around whether the Coalition was open to reviewing the current 60\/20 LIF commission caps – subject to the outcome of the Treasury’s Quality of Advice Review in December – the Treasurer said he was committed to ensuring that Australians have access to high quality, affordable and accessible financial advice:<\/p>\n

…the Government will consider the life insurance remuneration reforms and the impact of the reforms on the levels of insurance coverage<\/p><\/blockquote>\n

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Treasurer Frydenberg …seeking to ensure more Australians have access to the advice they need<\/figcaption><\/figure>\n

“That’s why we have initiated the Quality of Advice Review to be completed by December this year. The terms of reference for that review make it clear that the Government will consider the life insurance remuneration reforms and the impact of the reforms on the levels of insurance coverage,” noted the Treasurer, adding:<\/p>\n

“I want more, not fewer, Australians to get the advice they need to improve their financial security now and in retirement.”<\/p>\n

While the Treasurer’s comments neither specifically refer to the current 60\/20 commission cap nor represent a change in current policy, there nonetheless appears a willingness on behalf of the Coalition to explore what actions it might take to stem the exodus of risk specialist and other financial advisers from the sector, with a view, in the Treasurer’s words, to “…ensuring that Australians have access to high quality, affordable and accessible financial advice.”<\/p>\n","protected":false},"excerpt":{"rendered":"

In what remains an uncertain future for the decreasing number of risk specialist advisers in the Australian market, the ongoing debate around commission levels and the viability of risk-focussed advice businesses generated the most engagement with Riskinfo readers in the week just run… The door may be slightly ajar for a returned Coalition Government to […]<\/p>\n","protected":false},"author":3,"featured_media":60821,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,8291],"tags":[],"class_list":["post-60803","post","type-post","status-publish","format-standard","has-post-thumbnail","category-compliance-regulation","category-story-of-the-week"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/60803","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=60803"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/60803\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/60821"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=60803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=60803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=60803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}