Australian advisers not pre-empting grandfathered commissions ban

The Association of Financial Advisers has given further reasons on why it opposes the end of grandfathered commissions, outlining considerations the financial services Royal Commission did not address in public hearings. While pressure from the broader community and the Hayne royal commission has pushed the big banks and AMP into ceding an end to grandfathered commissions, a high level of trail remuneration still in the advice ecosystem indicates reluctance in the wider advice community to follow suit. AFA general manager of policy and professionalism Phil Anderson said the associat...