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Mr De Gori needs to explain to we, his members and to our clients how to implement this change and why. My Practice only has a few affected clients, but most of these are in long-term legacy products, that if changed to a new product, would lose grandfathering under Centrelink rules and lose out on entitlements there. Hardly in their best interests.

I'm no Einstein, but as the commissions are a tax deductible expense to funds, stopping commission payments will not mean that 100% of the commission amounts will be passed onto clients.

How will the clients be better off, if I charge them the same amount as a fee as I receive in commission with a net worse off position? I should add, that as these affected clients are long-term clients, before a lot of the extra compliance costs came in, I have not charged them a fee over and above the small trail commission I receive, even though I treat them just the same as higher paying fee clients.

Removing trail commission will only help to put financial advice out of reach of many Australians. I trult look forward to the FPA Roadshow this year so rank and file regional advisers can ask the FPA hierarchy can ask them why they have sold us out!