{"id":64245,"date":"2023-01-31T13:58:42","date_gmt":"2023-01-31T02:58:42","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=64245"},"modified":"2024-10-30T08:42:25","modified_gmt":"2024-10-29T22:42:25","slug":"poll-result-60-20-not-enough","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2023\/01\/31\/poll-result-60-20-not-enough\/","title":{"rendered":"Poll Result &#8211; 60\/20 Not Enough"},"content":{"rendered":"<div id=\"polls-294\" class=\"wp-polls\">\n\t\t<div class=\"pollHeader\"><strong>An 80\/20 risk commission model will sustain a viable risk-focussed advice business, but a 60\/20 model will not.<\/strong><\/div><div id=\"polls-294-ans\" class=\"wp-polls-ans\"><ul class=\"wp-polls-ul\">\n\t\t<li>Agree <small>(83%)<\/small><div class=\"pollbar\" style=\"width: 83%\" title=\"Agree (83% | 155 Votes)\"><\/div><\/li>\n\t\t<li>Disagree <small>(13%)<\/small><div class=\"pollbar\" style=\"width: 13%\" title=\"Disagree (13% | 25 Votes)\"><\/div><\/li>\n\t\t<li>Not sure <small>(3%)<\/small><div class=\"pollbar\" style=\"width: 3%\" title=\"Not sure (3% | 6 Votes)\"><\/div><\/li>\n\t\t<\/ul><div style=\"text-align: center\"><\/div><\/div>\n\t\t<input type=\"hidden\" id=\"poll_294_nonce\" name=\"wp-polls-nonce\" value=\"4abeed2dbd\" \/>\n<\/div>\n\n<p>Advisers have once again sent a very clear message\u00a0 around what is needed to sustain a viable risk-focussed business.<\/p>\n<p>The results from our latest poll reveal an overwhelming 85 percent agree that an 80\/20 risk model is needed.<\/p>\n<p>This tallies very closely with the results from the same poll question when we asked it two years ago, on the eve of ASIC\u2019s 2021 review of the quality of life insurance advice.<\/p>\n<p>In February 2021 nine in 10 of those taking that poll (89%) agreed that an 80\/20 hybrid commission model for life insurance advice can form the basis for a sustainable risk-focussed advice business, whereas the 60\/20 model could not.<\/p>\n<p>However this year has seen a very slight shift in adviser sentiment with 12% of respondents to last week\u2019s poll disagreeing with the statement, while in 2021 only 6% of respondents disagreed.<\/p>\n<p>Could this imply a small proportion of advisers have adjusted their business models in the intervening two years?<\/p>\n<figure id=\"attachment_64251\" aria-describedby=\"caption-attachment-64251\" style=\"width: 775px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll.png\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-64251\" src=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll.png\" alt=\"\" width=\"775\" height=\"320\" srcset=\"https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll.png 775w, https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll-300x124.png 300w, https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll-768x317.png 768w, https:\/\/riskinfo.com.au\/news\/files\/2023\/01\/2021-poll-696x287.png 696w\" sizes=\"auto, (max-width: 775px) 100vw, 775px\" \/><\/a><figcaption id=\"caption-attachment-64251\" class=\"wp-caption-text\">The results from our poll story in February 2021 show very similar sentiments to this week&#8217;s poll.<\/figcaption><\/figure>\n<p>Advisers now await <strong>Minister Jones<\/strong> formal response to the recommendations contained in <strong>Michelle Levy&#8217;s<\/strong> Quality of Advice Review &#8211; which has recommended risk commissions should be retained.<\/p>\n<p>But, as noted last week, it appears the 60\/20 commission caps presently mandated under the Life Insurance Framework reforms will be retained but again, this has yet to be confirmed.<\/p>\n<p>In the meantime, our poll remains open for another week\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Advisers have once again sent a very clear message\u00a0 around what is needed to sustain a viable risk-focussed business. The results from our latest poll reveal an overwhelming 85 percent agree that an 80\/20 risk model is needed. This tallies very closely with the results from the same poll question when we asked it two [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":64254,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,49,270],"tags":[],"class_list":{"0":"post-64245","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-compliance-regulation","8":"category-polls","9":"category-remuneration"},"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64245","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\/24"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=64245"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/64245\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media\/64254"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=64245"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=64245"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=64245"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}