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Our only hope should be to glance immediately after ourselves and the AFA is the only organisation that really listens to, and provides a rats about what advisers really want or need to have. Not certain? Evaluate the quantity of advisers within the AFA board to that in the FPA and FSC.
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Eventually the reality! It absolutely was never about ‘churning’ it’s about lapses in the very first three several years, which Based on inside insurance plan companies statistics has risen sharply considering that 2008 GFC impacting on their own base line. What superior way to boost that bottom line than by possessing a draconian system to claw back the costs of marketing an item.
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Worse than the initial proposal wherever the churners ended up the most afflicted. Now all advisers are negatively impacted as a result of actions of a few. You would like to presume this will use only to new procedures just after 2013?
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Yet one more botched sector due to this about-regulating bunch of union reps on govt benefits eternally … A red head at the time explained in parliament towards the opposition chief ….. “carry it on” ….. Indeed I agree 2013 federal election … deliver it on….I as one of millions cannot wait around!