Just over one third of those who have so far taken part in our latest poll believe life companies will – at some point – support advice practices by covering the cost of policy administration.
Our current poll was prompted by a Riskinfo [Australia] roundtable discussion where one adviser said remuneration arrangements there are falling short of what’s needed to run their business.
While the same poll was run by our sister site across The Ditch, the results are markedly different.
So far, 43% of respondents to the New Zealand poll indicate they do not envisage being paid for their admin services by insurers, while in Australia, the figure is 74%.
However, adviser remuneration arrangements in Australia are different to New Zealand.
Here, early poll results indicate that 39% of respondents think life companies will one day come to the party to help cover admin costs, and 18% are not sure.
There’s still one week to go before this poll closes…
Do you envisage a future in which life companies will pay advice practices an administration service fee?
- No (46%)
- Yes (36%)
- Not sure (18%)
Loading ...Watch the Riskinfo AU roundtable discussion that prompted this poll question, and read our report Risk Advice Remuneration.