The REAL AMP website, page-56

First 56 Last

Share
Profile

Follow
efed

3,767 Posts.

251

03/04/21

11:46

Post #: 52234194
Share

Originally posted by HydraMedussa: ↑

A lot of businesses rely on commissions as part of their income. Look at real estate or Flight Centre travel agents pay structures. I never charged clients for a full week of analysis, completion pf paperwork, paying paraplanners for drawing up a big bs legal document etc getting the applications done, following it through medical underwriting etc as I got paid a commission from the insurer (payment rates were the same from all companies so there was no reason to choose one over the other, except for client’s needs and features, and the best value for what they required. After these commissions were cut plannners couldn’t afford to put it into place without losing money so they either stopped giving insurance advice or had to charge the client. Well done government for selling this to the public as being in their best interest. Premiums haven’t come down and there are a lot more uninsured people or people with crappy featured tv products. It’s more complicated than a lot of people realise and being an accountant who studied does not make you as knowledgeable on the subject as planners. Due to the medical underwriting inconvenience a planner or client wouldn’t want to change product without a good reason. Super has no built in fees unless the client wants an ongoing service agreement. Financial planning isn’t as lucrative as you think. If you know planners doing the wrong thing, you should report them to ASIC.

Expand

Hi Helmich,

Feeling a little ignored are we so you set up a new name, Hydrawhat?

AMP Price at posting: $1.33 Sentiment: Buy Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

Week 42 Wrap: HotCopper's top picks; new ASX 200 record; world yawns at war

What's causing the cost-of-living crisis, and how to navigate it

M4M

Macro, Norden set up transport solutions initiative for West Pilbara

IRX

InhaleRX snags $38.5M in funding from VC biotech funder Clendon

SNX

Sierra Nevada raises $2M for silver exploration at Blackhawk

TLG

Talga Group wins key permit for flagship graphite mine in Sweden

NVU

Nanoveu surges 10% after benchmark testing for new AI chip begins

MTH

Mithril's drilling in Mexico picks up silver at 997g/t, gold at 28g/t

SWP

Swoop lobs $18M offer at microcap telecom Vonex – in which it holds 19.9%