Commissions is a dirty word in the superannuation world. Commissions are an incentive-based reward system for individuals selling products. The more products a salesperson sells the more commissions the salesperson receives. Commissions are suitable in some industries but the most contentious use of commissions is where product floggers have claimed they have been providing financial advice, when they in fact they have been selling financial products. You can learn more about this fees versus commissions debate in relation to financial advice, and why commission-based advice is not independent.
The following articles refer to Commissions and superannuation.
And SuperGuide has the list!
It’s taken some time but a handful of motivated licensed financial advisers have finally raised the bar and demanded that… wait for it… licensed advisers provide independent advice in the best interests of clients.
I can hardly believe it myself, but according to Matthew Ross, the co-founder [...]
Consumers don’t matter. They really don’t.
In case you thought superannuation was about the fund members and that the 9% Superannuation Guarantee was all about your retirement savings, then think again. In the heat of the battle, sometimes civilians get hurt and anyone who has followed the Afghan and Iraqi conflicts [...]
When superannuation funds are delivering strong returns, you don’t see much written about the costs of investments, including the costs charged to member accounts by super funds. When returns are poor however, fees become more obvious. Along with investment performance, can be an important factor in determining the size for [...]
Q: My husband and I are looking to start a SMSF and roll our industry funds into it. We have been able to find sources for the set up, accounting and audit of the fund and are now looking for assistance on the portfolio. We have a share portfolio outside super and so have some [...]
… that is, Nick Sherry, the Assistant Treasurer, and former Minister for Superannuation and Corporate Law.
Senator Sherry has stood his ground against the mighty force of the financial services industry and it appears… hopefully, eventually… if the planets align, that his courage and leadership will dismantle the outdated and inappropriate [...]
I have been writing about, or working in or on the sidelines of the financial services industry for 20-odd years and the regulator and the advising industry are only now, in 2009, really grappling with how consumers make investment decisions and the influential [...]
In the May 2009 edition of SuperGuide, I promised you a list of what I believed to be the top ten problems with Australia’s super system. My motivation for promising this list was the federal government’s announcement of yet another review (details at bottom of this article) relating to the superannuation system, and the appointment [...]
Hi - I'm Trish Power and I am the author of Superannuation For Dummies and many other books on super and investing.And guess what! This site, SuperGuide, is the only INDEPENDENT website for consumers on superannuation in Australia. Read more
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