Rice Warner chief supports commissions capBY ALEX BURKE | THURSDAY, 2 APR 2015 12:25PMRice Warner chief executive Michael Rice said the commission structure proposed in the Trowbridge Report is a "necessary improvement". Related News |
Editor's Choice
Australian Unity to shed 195 roles
Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.
Count shutters limited-advice business, slips in size ranking
Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.
First Super recruits head of investments from Prime Super
First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.
BMO eyes Euroz Hartleys' capital markets business
Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.
Products
Expert Feed
When geopolitics becomes a portfolio risk
Geopolitics is back - again - and Australian investors can no longer treat it as distant background noise.
Does association membership still matter?
With all the changes the advice sector has experienced in recent years, such as regulatory reform and increased education and professional standards ...
Digital assets and where they stand in 2026
So far in 2026 digital assets have captured the headlines largely for the wrong reasons, but that doesn't tell the full story.
Rethinking default design in a changing market environment
The evolution underway in the US DC system highlights the value of periodically reassessing default design assumptions.
Featured Profile
David Woodall
CHIEF EXECUTIVE OFFICER, SUPERANNUATION
INSIGNIA FINANCIAL LTD
INSIGNIA FINANCIAL LTD
Facing his greatest test yet in metamorphosing MLC Super, Dave Woodall is adamant the juice will be worth the squeeze. Jamie Williamson writes.
Mr Rice's comments seem all very nice, knowledgeable and business-like. However, it's probably 200% correct to state that this same gentlemen has never sold life-risk insurance in his life and has absolutely no idea about the costs to put it in place for clients.
So while it might look good, it doesn't address down-home practicalities. How will newer advisers provide a living for themselves and their families until they have a substantial client base on the abysmal commission structure etc that the Trowbridge Report recommends? Will super fund members be provided with realistic advice about their insurance needs? Will group life insurance deliver sufficient, in terms of levels and quality of coverage, to prevent greater pressure on our welfare system than it currently has difficulty in managing now?
The Trowbridge Report, while recommending some worthwhile points, is fundamentally flawed because prospective clients don't line up to buy life-risk insurance - it was, still is, and seemingly will always need to be sold.