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Showing 31 - 40 of 111 results for "grandfathered commissions"

Regulators quash remuneration rumours

ELIZABETH MCARTHUR  |  THURSDAY, 28 NOV 2019
... ASIC and advice industry stakeholders has led her to believe some see the January 2021 cut-off date for grandfathered commissions as the commencement of a transition period rather than a definitive deadline. "This is your transition period, so get prepared," ...

Politician urges Treasurer to protect advisers

ELIZABETH MCARTHUR  |  FRIDAY, 22 NOV 2019
... to an end. Steggall explained the group requested: "Any policy or recommendation to amend or remove grandfathered commissions requires an extended timeframe to allow advisers to adapt their businesses." Steggall wrote that the Treasurer should consider ...

Financial planning pioneer to speak at FPA Congress

KANIKA SOOD  |  FRIDAY, 22 NOV 2019
... week. A lot has changed since Anthony's visit to Australia last year: the government has passed a ban on grandfathered commissions paid to financial advisers, the big banks has hastened their exit of financial advice and advisers have sat two rounds ...

Wealth income halved, Hartzer skips $1.6m bonus

HARRISON WORLEY  |  MONDAY, 4 NOV 2019
... said was due to an additional $531 million in remediation and litigation costs, while the cessation of grandfathered commissions hit the bank to the tune of $42 million. Life insurance income was down $39 million compared to 2018, due to the implementation ...

Berkshire to chase growth for InvestSMART

KANIKA SOOD  |  FRIDAY, 25 OCT 2019
... services business has hired Berkshire Global Advisors to look for growth options as its revenue from grandfathered commissions starts to dry up. Commissions on funds and insurance products accounted for more than 56% of InvestSMART's total income ...

ASIC using intimidation tactics on grandfathering: AIOFP

ELIZABETH MCARTHUR  |  WEDNESDAY, 16 OCT 2019
ASIC is using intimidation tactics to get product providers to shut down grandfathered commissions early, according to the Association of Independently Owned Financial Professionals (AIOFP). Speaking to Financial Standard, AIOFP executive director Peter ...

Grandfathered commissions ban passes

ELIZABETH MCARTHUR  |  TUESDAY, 15 OCT 2019
The legislation that will end grandfathered commissions has passed both houses of federal parliament. Under the reforms, the benefit of any conflicted remuneration payable under a contract must be passed on to the client. The Treasury Laws Amendment ...

Complexity of grandfathered commissions overlooked

ELIZABETH MCARTHUR  |  FRIDAY, 27 SEP 2019
... Financial Advisers general manager, policy and professionalism Phil Anderson argues that the complexity of grandfathered commissions has been overlooked by policy makers. Anderson states in the paper that the 2012 Future of Financial Advice legislation ...

Dealer group to fight grandfathered commissions ban

ELIZABETH MCARTHUR  |  FRIDAY, 13 SEP 2019
Lifespan Financial Planning has thrown its financial support behind the fight to retain grandfathered commissions. It has contributed $10,000 to the Adviser Regulatory Fund set up by the Association of Independently Owned Financial Professionals to ...

The end of grandfathered commissions

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 SEP 2019
... doing so will leave Australians worse off. Passing yesterday, the legislation will see the banning of grandfathered commissions from 1 January 2021. Responding, the Association of Financial Advisers (AFA) has argued thousands of clients will be worse ...