Game over for grandfathered commissionsBY JAMIE WILLIAMSON | THURSDAY, 10 JAN 2019 12:33PMAs far as the Productivity Commission is concerned, grandfathered commissions are dead in the water. Related News |
Editor's Choice
AustralianSuper engages TAL to create retirement option
The new option is expected to be available in early 2025.
Lombard Odier brings plastic circularity fund down under
Lombard Odier Investment Managers (LOIM) is bringing its Plastic Circularity Fund to Australia, following a first close last year with backing from the sovereign wealth fund of Monaco, among others.
Treasury releases draft legislation for new $3m super tax
The SMSF Association has slammed the proposed changes, claiming it will result in more red tape, costs and unexpected outcomes.
Castlerock embarks on $30m capital raise
Property fund manager Castlerock is aiming to raise $30 million to expand its portfolio focused on government-leased assets.
Products
Featured Profile
Brian Parker
CHIEF ECONOMIST
AUSTRALIAN RETIREMENT TRUST
AUSTRALIAN RETIREMENT TRUST
To Brian Parker, the best investment ideas are the ones that make common sense. As chief economist of Australian Retirement Trust, Parker combines his analytical prowess and interpersonal skills to better member education and outcomes. Chloe Walker writes.
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.
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.