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Showing 11 - 20 of 133 results for %22grandfathered commissions%22

Fiducian looks to gain from change

ELIZA BAVIN  |  THURSDAY, 12 NOV 2020
... label/badged platform clients and funds distribution. Around 1% of the group's net revenue is garnered from grandfathered commissions and management is confident of its tested procedures and controls on ensuring there are no "fee for no service" issues ...

Self-licensing on the horizon

KARREN VERGARA  |  MONDAY, 19 OCT 2020
... scrutiny, including probing as to how licensees are adapting to the changing regulatory environment. With grandfathered commissions ceasing from 1 January 2021, Cullen said advisers need to ensure licensees have the necessary scale and structure in place ...

AMP deed of release bars advisers joining class action

ELIZABETH MCARTHUR  |  MONDAY, 7 SEP 2020
... resulting in significant economic changes and disruption across the industry. This includes the removal of grandfathered commissions, new mandatory education standards, and new regulations around advice," an AMP spokesperson said. "Throughout the process ...

Challenges on the horizon for CountPlus

ANNABELLE DICKSON  |  FRIDAY, 28 AUG 2020
... Count Financial will be faced with the consequences of the Royal Commission including the mandatory rollback of grandfathered rebates and platform commissions paid to licensees. Ahead of the changes, Count Financial has started the move to a "clean" ...

Embattled AMP sees wealth earnings dive

ELIZA BAVIN  |  THURSDAY, 13 AUG 2020
... "Advice reshape delivered on plan in 1H20 with rehoming of clients to new practices. Ceased majority of grandfathered commissions with all benefits returned to clients." AMP added the remaining grandfathered commissions will cease in the second half ...

AMP advisers low priority for ASIC

ELIZABETH MCARTHUR  |  WEDNESDAY, 15 JUL 2020
... affiliated with AMP. Those complaints were about the BOLR changes, AMP applying legislative changes to grandfathered commissions ahead of the legislated timeline and AMP issuing notices of termination to an estimated 205 planners. "[The BOLR] decision ...

Calls to investigate treatment of AMP advisers

ELIZABETH MCARTHUR  |  FRIDAY, 26 JUN 2020
... client books in good faith with this guarantee." O'Neill also took issue with the fact that AMP cut grandfathered commissions in January 2020, 12 months ahead of the legislated ban on grandfathered commissions. "Furthermore, AMPFP has issued notices ...

AIOFP launches fresh campaign, criticises FPA

ELIZABETH MCARTHUR  |  TUESDAY, 21 APR 2020
... advice in the future. "Let's not be fooled by the latest softening by ASIC, they have only temporally stopped their grandfathered revenue cessation pressure on manufacturers and statement of advice related concessions due to the COVID-19 crises for politically ...

COVID-19 sparks renewed fight for commissions

ELIZABETH MCARTHUR  |  MONDAY, 6 APR 2020
... submission on the implementation of the Royal Commission recommendations calling for the banning of grandfathered commissions to be pushed back by two years to help advisers through the COVID-19 crisis. The proposed new date for the banning of grandfathered ...

Colonial First State cuts fees, closes legacy options

KANIKA SOOD  |  TUESDAY, 3 MAR 2020
... some legacy options in FirstChoice Employer Super, as it simplifies its product line and phases out grandfathered commissions. The changes are across retail products (legacy super, pension and FirstChoice wholesale personal super), FirstChoice Employer ...