AIA hybrid commission strategy pays offBY LAURA MILLAN | TUESDAY, 29 JUL 2014 12:30PMAIA Australia's initiative to reward advisers who move to a hybrid commission model has seen 829 advisers shifting to the new system in the past five months.
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And ASIC is quite OK with instos behaving like this? .....i.e. upping the commissions to increase product sales. But in typical fashion, ASIC and clients (i.e. AIA policyholders) will blame it all on advisers if the product or the institution goes pearshaped, or knocks back more insurance claims than the industry average.
Wouldn't it be more proactive an approach to mandate identical commission structures across the entire life industry, so that there is no glaringly obvious incentive to recommend one product over a competitor's?