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Showing 71 - 80 of 133 results for %22grandfathered commissions%22

Royal Commission boosts platform provider

HARRISON WORLEY  |  TUESDAY, 26 FEB 2019
... Hayne's suite of recommendations for improving the wealth management industry, specifically the removal of grandfathered commissions. The firm is the latest platform provider to trumpet its positive outlook after the Royal Commission. Earlier this month ...

Grandfathered commissions ban splits industry: Poll

KARREN VERGARA  |  MONDAY, 25 FEB 2019
The proposed removal of grandfathered commissions will have opposing effects on revenue, latest poll results show. More than half (53%) surveyed by Financial Standard last week said the removal of grandfathering arrangements will have minimal to no ...

Labor responds to Royal Commission final report

JAMIE WILLIAMSON  |  MONDAY, 25 FEB 2019
The Labor Party will look to ban the payment of grandfathered commissions by January 2020 if successful at the upcoming Federal election. Responding to the final report, Shadow Treasurer Chris Bowen said the party has already tabled a bill to end the ...

IOOF braces for new super package, grandfathered commissions changes

KARREN VERGARA  |  TUESDAY, 19 FEB 2019
... will take a hit from the newly legislated Protecting Your Super package and the proposed removal of grandfathered commissions. Acting chief executive Renato Mota and chief financial officer David Coulter told an investor briefing this morning that the ...

Netwealth to benefit from RC fallout

HARRISON WORLEY  |  MONDAY, 18 FEB 2019
... opportunity, but noted it could be expected to perform even better off the back of the Royal Commission. With grandfathered commissions set to be banned following Commissioner Kenneth Hayne's recommendation, Netwealth said it expects some of the ...

Royal Commission recommendations split industry

KARREN VERGARA  |  MONDAY, 18 FEB 2019
... encourage better compliance," Cook said. This week's poll asks: What impact will the removal of grandfathered commissions have on your firm's revenue?

Synchron slams RC on commissions

KANIKA SOOD  |  WEDNESDAY, 6 FEB 2019
... Synchron director Don Trapnell. On Monday, Commissioner Kenneth Hayne formally recommended an end to grandfathered commissions, and asked government to push to its current 20-60% commission caps on sale of life risk insurance products to zero when it ...

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 ...