JBWere’s new adviser remuneration model welcomed
The Stockbrokers Association of Australia (SAA) has supported the change in JBWere's remuneration model to its advisers which will help reduce their reliance on grid commissions.
SAA has welcomed such a decision and appreciated a move towards introducing an outperformance pool and profit sharing, describing it as "a positive development for the wealth industry".
SAA's chief executive, Andrew Green, also noted that such a move marked the evolution of the traditional stockbroking business model to providing clients with "one-stop financial advice".
"The move towards fees based on funds under advice is complementary to the evolution and will help to create a stronger alignment between clients and their advisers," he said.
AUTHOR
Oksana Patron
Recommended for you
ASIC has issued infringement notices to two AFSLs over financial advisers providing personal advice while they were unregistered.
Australian retirees could increase their projected annual incomes by as much as 51 per cent through comprehensive financial advice, according to a Vanguard study, but cost continues to be an issue.
AMP has announced a senior appointment to its North leadership team, reinforcing the firm’s commitment to the advice industry.
Despite the financial adviser exam being rooted in ethics, two professional year advisers believe the lack of support and transparency from the regulator around the exam is unethical.
