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The "all companies pay the same rate" nugget rolled out again. Your honour, I had the same conflict regardless of which product I sold, making everything OK. Sounds like a good defence.

I also like the cash flow reference. I nearly fell over when I heard the mortgage brokers claiming clients couldn't afford $2,000 to pay for mortgage broking advice on their multi-hundred thousand dollar loans. I wonder if it dawned on them that maybe the clients couldn't afford the loans either. Maybe if you rebated the commission they could afford to pay your fee.

Commissions have been part of the fabric of selling insurance for decades. They are the source of all the problems, the onerous compliance and all the distrust of advisers. Despite this, somehow commissions are thought by many to be the solution as well. You'll have to forgive me I don't come from that illogical world.

The RC showed how well things are currently working for consumers. Lucky they weren't doing calculations on commissions for no service, that would have added a couple of billion for the headlines.

Us poor advisers getting screwed again. A pretty common theme for comments on here. Maybe what we are seeing are changes proposed to stop advisers from continuing to screw others. If we were really interested in making things better for our clients we would be lobbying to make sure life companies reduced their premiums, rather than trying to protect commissions.