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Cliff Man
CHIEF EXECUTIVE OFFICER
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ETF SHARES MANAGEMENT LTD
ETF Shares chief executive Cliff Man spent his career automating, building and challenging established systems. Now, he is betting that Australia's ETF market has room for something different. Vinny Vucago writes.
The Financial Standard podcast Tune in each week as we discuss the latest developments in Australia's wealth management industry. |  |
Spot on!
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.