Financial Standard Comments - Game over for grandfathered commissions As far as the Productivity Commission is concerned, grandfathered commissions are dead in the water. https://www.financialstandard.com.au/feed/latest?story=131008959 Thu, 10 Jan 2019 20:09:30 +1100 Thu, 10 Jan 2019 20:09:30 +1100 en-AU Copyright 2026 Financial Standard 5 Comment by Ten Beers (Financial services) It appears so many making these changes dont understand the business. Putting all on fee for service will mean many Austrlians will not be able to afford advice and thus it wil be the more affluent that seek advise. grandfathered position requires less compliance such as opt in etc and are cheaper to serve, FFS for most clients, is a higher cost than commissions and this is especially so for the members with lower balances. the trail may only pay a token amount an depending on the balance, but in many case it would be far less than a fee for service. I really trust regulators get this before they run the industry out of business.

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]]> Ten Beers (Financial services) Thu, 10 Jan 2019 20:09:30 +1100 Comment by Ray James (Financial Life Balance) Most people in business are in business to profit, that is the sole reason for having your own business.
ASIC and APRA and the Royal Commission are doing their best to destroy our businesses.
Good luck with the future, you will know in a couple of years that you have a made a big mistake.

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]]> Ray James (Financial Life Balance) Mon, 14 Jan 2019 09:07:00 +1100