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Showing 1 - 10 of 11 results for "Advice Payment"

Fortnum drops upfront risk commissions

ALEX BURKE  |  MONDAY, 18 MAY 2015
... report's recommendations, level commissions will be set at 20% of premiums along with a possible $1,200 initial advice payment. Fortnum executive chair Ray Miles insisted these changes were not being made to combat policy "churning" in the group; rather ...

FEATURE: Where next for risk advice?

ALEX BURKE  |  TUESDAY, 28 APR 2015
... remuneration be based on a system of level commissions (at a maximum of 20% of premiums) supplemented by an Initial Advice Payment (IAP) which can't be made again more than once every five years, and that there be a three-year transition period for reforms ...

Don't blame "churning" on advisers: Synchron

LAURA MILLAN  |  MONDAY, 20 APR 2015
... that drew conclusions from the trip. The group rejected the Trowbridge report proposal to implement an initial advice payment (IAP) for risk advice products. Instead, it said it is "already negotiating to develop an Australian version of a highly successful ...

ClearView predicts end of independent financial advice

ALEX BURKE  |  WEDNESDAY, 1 APR 2015
... "policy churn" as a scapegoat. "Level commissions are not the answer. Nor is a restrictive and inadequate initial advice payment allowance and ongoing commission. In fact, they are both well wide of the mark," said Clearview Wealth managing director ...

AFA can't give Trowbridge report "complete support"

ALEX BURKE  |  FRIDAY, 27 MAR 2015
... of Financial Advisers (AFA) cautioned. Specifically, AFA chief executive Brad Fox noted that because the Initial Advice Payment (IAP) proposed in the report was less than the cost of advice, advisers would need to supplement their earnings using a fee-for-service ...

Trowbridge releases final report

ALEX BURKE  |  THURSDAY, 26 MAR 2015
... remuneration be based on a system of level commissions (at a maximum of 20% of premiums) supplemented by an Initial Advice Payment (IAP) which can't be made again more than once every five years, and that there be a three-year transition period for reforms ...

FSC joins calls for tax deductible advice

MARK SMITH  |  MONDAY, 10 FEB 2014
The Financial Services Council (FSC) has recommended the government implement tax deductions for those seeking financial advice. The FSC used its pre-Budget submission to join organisations such as the Financial Planning Association (FPA) and the Institute ...

Risk commission debate heats up

RUTH LIEW AND ALEX DUNNIN  |  THURSDAY, 18 MAR 2010
The FPA's stance that commissions on risk products should remain has revived the debate on insurance fees and prompted two other industry bodies to have their say. The Financial Planning Association yesterday called for commission payments for risk ...

Commission on risk products should continue: FPA

COMPANY RELEASE  |  WEDNESDAY, 17 MAR 2010
The Financial Planning Association (FPA) has called for commission payments for risk products to continue, citing fee-for-advice payments on risk products could make life insurance too expensive for clients. According to a press statement, the FPA Board ...

IFSA launches superannuation Charter

ALEX DUNNIN  |  WEDNESDAY, 17 JUN 2009
A new Super Charter launched by the Investment and Financial Services Association (IFSA), akin to an investor bill of rights, looks set to redefine wealth management industry practices. The "historic charter [will] create a fairer and more competitive ...
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