AFA announces life insurance roadshow
The Association of Financial Advisers (AFA) has announced a national Life Insurance Roadshow to help advisers providing life insurance advice transition from upfront commissions to hybrid commissions.
The Roadshow, ‘Facing into Transition', will begin later this month to help advisers deal with the changes arising from the Life Insurance Framework (LIF), and will travel to all major capital cities.
AFA chief executive Brad Fox said the Roadshow is the next step after the LIF question and answer session held during the AFA's National Practitioners Roadshows earlier in the month.
"Advisers have told us that they need support to adapt to the proposed changes," Fox said.
"They want the opportunity to workshop how to most successfully use hybrid commissions, how to help clients accept a separate advice fee, perhaps alongside a commission, and how to deal with the three year clawback danger."
AFA's Adviser of the Year finalist PJ Byrne will be the keynote speaker, who will talk about how he transitioned after nearly 15 years from writing upfront commissions to hybrid commission plus a fee.
"PJ will talk frankly about the effect this move has had on referrals, cash flow, business valuation and conversion rates," Fox said.
"He will go so far as sharing the tools and conversations he has around fees and the value of his advice."
The roadshows will also include risk advice specialist Russell Collins, who will talk about how to shelter a practice against losses from clawbacks in the second and third years, and organisational psychologist David Peake.
The roadshows will include a Q&A session.
AUTHOR
Malavika Santhebennur
Recommended for you
A relevant provider has received a written direction from the Financial Services and Credit Panel after a superannuation rollover resulted in tax bill of over $200,000 for a client.
Estimates for the calendar year 2024 put the advice industry on track for a loss in adviser numbers as exits offset gains from new entrants.
Adviser Ratings shares five ways that financial advice changed in 2024 with an optimistic outlook for 2025, thanks to the Delivering Better Financial Outcomes legislation.
National advice firm Invest Blue has announced several acquisitions, including the purchase of an estate planning and wealth protection business Lambert Group.
