Financial Standard Comments - Grandfathered commission debate an overreaction: AFA The ongoing debate around the removal of grandfathered commissions is an "overreaction", with trail commissions contributing little to the overall income of financial advice practices in reality. https://www.financialstandard.com.au/feed/latest?story=124180420 Thu, 26 Jul 2018 18:47:32 +1000 Thu, 26 Jul 2018 18:47:32 +1000 en-AU Copyright 2026 Financial Standard 5 Comment by Jonathan van Omme (BOS Financial Strategies) Spot on!

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]]> Jonathan van Omme (BOS Financial Strategies) Thu, 26 Jul 2018 18:47:32 +1000 Comment by Christopher Walsh (Chris Walsh Financial)

The one thing they seem to be forgetting is that the majority of financial advisers have written and signed agreements with the life offices.

The agreements were and are based on the life office on paying trail and renewal commissions for our services in securing business for them. The adive given in writing to clients was and is based on the life office paying trail and renewal commissions.

This copuld lead to a class action by advisers in order to have life offices honour those agreements. I would suggest that all advisers locate these agreements, and be ready to use them if need be.

During my 38 years in this industry I have always used trail and renewal commissions to compensate our office for ongoing service to the clients. My clients know that if they need some assistance they can contact me and ill die for them if I have to.

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]]> Christopher Walsh (Chris Walsh Financial) Mon, 30 Jul 2018 09:10:00 +1000