It probably comes as no surprise that the results of our latest poll suggest a capping of life insurance commissions would not be a welcome move among many risk advisers.
At the time of writing, the majority of voters (67 percent) believed that up-front commissions should not be capped.
However, more than a quarter of votes (27 percent) opted for a cap on commissions and just six percent were not yet sure.
Whether the Government decides to introduce a cap on commissions and make other changes to adviser remuneration as a result of its Conduct of Financial Institutions review is yet to be seen.
Releasing its Options paper last week, the Government is considering the potential benefits and drawbacks of such a choice (see: Pros and Cons of a Commission Cap…) and the industry will respond with submissions on the matter in due course.
Our poll still remains open for another week, if you’d like to cast your vote…