Banning life commissions will leave more consumers chronically underinsured, FPA says. The Financial Planning Association (FPA) has rejected calls from consumer advocacy groups to ban life insuranc
Consumer groups are pressuring the advice review and government to end any remaining forms of commissions in the industry. Leaders in risk advice argue it could decimate the industry and take away choice from consumers.
The FPA is seeking a “proper review” of the outcomes of the Life Insurance Framework Review. In its submission to the Quality of Advice Review – Conflicted Remuneration Paper, the Financial Pla
Although largely welcoming of Quality of Advice Review lead Michelle Levy’s recommendations, the Association of Financial Advisers would like her to tweak the proposal that allows non-relevant providers to give advice.
We could spend forever on the blame game, says consultant Conrad Travers. Policymakers. The regulator. Hayne. Licensees. Intermediaries. The banks. It's all justified, but it doesn't change a thing. We need to do better.