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AIFA slams ABI calls for commission overhaul as needless

AIFA has hit out at the ABI’s proposals for an overhaul of IFA commission payments saying they are pointless given no commission bias was found.

Given the ABI research, carried out by Charles River Associates, shows minimal evidence of widespread commission bias, AIFA has queried why the ABI still wants a revamp of commission payments.

AIFA director general David Severn says the proposals are particularly poorly timed, with the menu recently introduced, and will only add to consumer confusion.

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Clients often ask you to advise them on tax and financial planning for their businesses. A key part of this is catering for their wishes to pass on their business – or the value representing it – if they die before retirement.

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