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Showing 71 - 80 of 111 results for "grandfathered commissions"

Grandfathered commissions deadline challenging: AFA

JAMIE WILLIAMSON  |  WEDNESDAY, 6 FEB 2019
The removal of grandfathered commissions by 2021 is not as simple as it sounds, according to the Association of Financial Advisers. Acknowledging the recommendation and subsequent announcement of a deadline for removal by Government was inevitable ...

Institutions respond to Royal Commission, make commitments

HARRISON WORLEY  |  TUESDAY, 5 FEB 2019
... including our approach to dealing with customer complaints and leading the industry in moving away from grandfathered commissions. The recommendations in the report will help us build on this progress," Westpac chief executive Brian Hartzer said. ANZ ...

Life risk commissions must also go: Hayne

KANIKA SOOD  |  MONDAY, 4 FEB 2019
... $1.2 billion, OnePath paid $1 billion, TAL $840 million, Westpac $697 million (plus $158 million in grandfathered commissions on life insurance in super products), AIA paid $690 million, CommInsure paid $460 million, AMP paid $380 million and Zurich ...

Grandfathered commissions to be banned

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
Grandfathered commissions will be banned from 1 January 2021. Responding to the release of the Royal Commission's final report, Treasurer Josh Frydenberg has confirmed the payment of grandfathered commissions will be outlawed. Further, from 1 January ...

Ongoing service arrangements should be tightened: Hayne

JAMIE WILLIAMSON  |  MONDAY, 4 FEB 2019
... deriving benefits from ongoing fee arrangements." However, such requirements - coupled with the removal of grandfathered commissions - will likely lead to a dramatic increase in up-front fees, Lifespan Financial Planning chief executive Eugene Ardino ...

MLC drops wrap and super admin fees

DARREN SNYDER  |  TUESDAY, 29 JAN 2019
... received by financial advisers. Additionally, NAB Financial Planning and NAB Direct Advice no longer accept grandfathered commissions from NAB Wealth superannuation and investment product providers.

Game over for grandfathered commissions

JAMIE WILLIAMSON  |  THURSDAY, 10 JAN 2019
As far as the Productivity Commission is concerned, grandfathered commissions are dead in the water. In its final report the commission states that the time for transition is over; "the commission supports a full ban of all commissions on superannuation ...

AFA explains stance on grandfathered commissions

DARREN SNYDER  |  FRIDAY, 21 DEC 2018
The Association of Financial Advisers has shed further light on its opposition to end grandfathered commissions, outlining considerations the financial services Royal Commission did not address in public hearings. Speaking to Financial Standard on Thursday ...

Ten stories that defined the Royal Commission

HARRISON WORLEY  |  WEDNESDAY, 19 DEC 2018
... negotiate outcomes with entities who broke the law, instead of taking the issues to court. Banks vow to end grandfathered commissions Just weeks after the interim report was released, the peak body for Australia's banking industry - the ABA - said it ...

Grandfathered commissions: Where to from here?

JAMIE WILLIAMSON  |  WEDNESDAY, 19 DEC 2018
Almost two-thirds of financial advisers are against the removal of grandfathered commissions. A recent poll conducted by Financial Standard's sister publication FS Advice found 63% of respondents do not believe the payment of grandfathered commissions ...