Handle churn through dealer groups, don't target advisersBY MELANIE TIMBRELL | THURSDAY, 5 JUL 2012 12:15PMThe Financial Services Council should develop standards to force dealer groups and life companies to manage individual advisers churning business rather than punish the entire industry, reveals an opinion survey of independent advisers conducted by Asteron Life. |
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If ASIC were prepared to institute a regular data feed from product issuers whereby they were able to track revenue from sales then this would all become largely academic. The power exists to do this based on my reading of the Corporations Act. It would be substantially more efficient and powerful than the dealer surveys of the past 12 to 24 months - which appear to have just been paper chases.