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Showing 31 - 40 of 107 results for "Grandfathering"

BTFG will pay back grandfathered commissions to customers

KANIKA SOOD  |  WEDNESDAY, 25 JUL 2018
... commissions if it believed so strongly in it, Wright threw back to FoFA five years ago. "There were two components to grandfathering and I think the industry forgot one of them, which was allowing the opt-in of ongoing advice relationships, pre-FoFA ...

BT Financial Advice cuts grandfathered commissions

JAMIE WILLIAMSON  |  WEDNESDAY, 20 JUN 2018
... for the continuation of payments agreed to prior to 1 July 2013. "It was generally understood at the time that grandfathering of those arrangements was necessary, at least in part, because legislators could not extinguish existing contractual rights ...

AFA criticises draft FASEA standard

KARREN VERGARA  |  FRIDAY, 8 JUN 2018
... might be a "dangerous complication" to imply the new requirements reflect the spirit of the law and relying on grandfathering arrangements may breach the proposed standard. With respect to Standard 2, which states advisers must not advise, refer nor ...

RECAP: Advice in the Royal Commission spotlight (Day 4 and 5)

KANIKA SOOD  |  FRIDAY, 20 APR 2018
... Planning. Dover currently employs the adviser. Wright thinks insurance should still be excluded from potential grandfathering rule changes. sufficiently covers this area, he said. Earlier in the morning, the government beefed up ASIC's powers imposing ...

RC questions adviser sales tactics

KARREN VERGARA  |  FRIDAY, 20 APR 2018
... clients' portfolios. Wright conceded that he and senior management haven't done enough in this area. But in terms of grandfathering commission arrangements put in place pre-July 2013, there's an opportunity to take this debate to "another level," he ...

No view on ending adviser commissions: AMP

ALEX BURKE  |  TUESDAY, 17 APR 2018
... arrangements we have in place are to let planners negotiate their own arrangements, and we're working through the overall grandfathering period," Regan said. When prompted what he meant by this, Regan said that commissions are already "dropping away ...

Industry responds to latest FASEA guidance

JAMIE WILLIAMSON  |  WEDNESDAY, 21 MAR 2018
... advisers in the same way that it does the raising of education standards. It will also advocate for an additional grandfathering arrangement for older advisers. "We will also argue that advisers should have the opportunity to do study in an area that ...

Crunch time for limited MDA advisers

KARREN VERGARA  |  WEDNESDAY, 14 MAR 2018
... 65% increase in interest from advisers leveraging off limited MDAs. The reality of removing limited MDA's and no grandfathering of existing positions is making itself known, he added. "Additionally, concern around possible future capital requirements ...

Advisers ambivalent on LIF deadline: Poll

KARREN VERGARA  |  MONDAY, 20 NOV 2017
... be capped. About 69% of the 200 risk advisers canvassed by Zurich didn't fully understand the new rules around grandfathering, while 60% are yet to measure the impact the new regulations will have on their cash flow. Less than half (43.5%) said they ...

ANZ launches LIF resource

KARREN VERGARA  |  FRIDAY, 3 NOV 2017
... unsure of the types of life insurance remuneration being capped and 69% don't fully understand the new rules around grandfathering. A stronger understanding of new clawback provisions was demonstrated however, with 43.5% saying they understood the guidelines. ...