Our latest poll stems from Partners Life’s recent defence of current remuneration arrangements for advisers (see: Advisers Are the Good Guys).
The FMA has concerns that the upfront remuneration structures used by insurance providers for financial advisers could negatively affect the advice given to clients. To counter this, it wants to see a change to the upfront commission payment system insurers use.
However, Partners Life believes financial advisers are the “good guys” and that the industry regulator’s concerns about upfront commission payments are unfounded.
Advisers offering the firm’s products as part of their advice proposition to their clients are now being measured against six key indicators under the insurers’ Customer Outcomes Matrix, and clients are being canvassed by the firm so it can build a body of evidence to show that the upfront commission structure doesn’t compromise the advice offered.
Which brings us to this week’s poll question…
Are you concerned about the FMA’s push to change the way advisers are remunerated?
- Yes (78%)
- No (20%)
- Not sure (2%)
Loading ...