SAS Group News
Upfront and Trailing Commissions to Go
By Bernie Ripoll, Director
The Parliament recently passed legislation to change commissions paid to advisers in the Life Insurance sector that will commence on 1 January 2018.
The changes will mean reduced upfront commissions paid to advisers and the introduction of a cap to a maximum of 20 per cent for ongoing commissions.
Under the Future of Financial Advice reforms introduced in 2013, the insurance sector was not included in the reforms due to concerns at the time it would exacerbate the under-insurance problems in Australia, however, it was always the intention to return to the issue sometime later.
Labor Party State Conference
By Nino Lalic, Senior Consultant
Over the weekend of 28-29 July, the Queensland ALP held its annual State Conference in Townsville.
Townsville Mayor Jenny Hill, welcomed more than 400 delegates as well as observers, hundreds of party members, and local, state and federal representatives to the capital of North Queensland.
Ripoll warns of unpredictability of super
Our Director Bernie Ripoll spoke at the Class Connect superannuation industry conference in Sydney this week, sharing some of his experience and insights from his time as Assisstant Minister to the Federal Treasurer. Here's some of the news coverage of his speech: