very interesting point there huge.If FA receives a benefit /...

very interesting point there huge.

If FA receives a benefit / income from other investors via the product provider (not the fund member) then it is called a commission (which is what it is).

If the FA works for an Industry Fund and receives a benefit / income from other investors via the product provider (not the fund member) then it is NOT called a commission (which is what it is). Even if the fee doesn't cover the cost of the service. I'm a bit confused.

I can imagine the recommendation : "I recommend XYZ Super FUnd. Now, what was the question?"

They may say they don't make a profit, but they do keep aside reserves, pay millions for advertising and sporting sponsorships, possibly get huge kickbacks from investment managers (including their own internal ones) & insurance companies (so I hear - not confirmed), prop up the ALP, don't give service or make it easy for insurance to be set-up, let alone when it's time to claim, have limited & non-standard investment options (making it harder to compare) etc etc.

Anyway, enough of my observations and hearsay, which is all it is and not to be taken as any kind of information.