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
Former Iress chief executive, Andrew Walsh, has been promoted to chair of a boutique Sydney advisory firm, having stepped down from the same position at Mason Stevens.
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
The finalists for the 2025 Australian Wealth Management Awards have been revealed, shining a spotlight on the top performers and rising stars across the nation’s wealth sector.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
