From 2012 the Goverment wants to ban commisions including what are know as trailing commisions often paid from Superannuation and Investment products. Much of the industry spends a lot of time building their "book" of trails which is to some degree passive income.
What much of the industry is now doing is switching from percentage based trailing "commisions" to percentage based "advisor service fees" there seems to be no difference?
Also is there are a meaningfull ethical issue? I think there is as it skews the focus of advisers from giving advice to trying to place clients funds into products.
Opinions?
I can be contacted at www.smallbusinessworks.com.au for more information.
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