ISA do not understand that commission remuneration is just another way of clients paying for ongoing advice and service. Removing so called "Grandfathered Conflicted Remuneration" is not going to reduce the costs to the clients as the financial planners will simply rebate the commission and charge ongoing advice and service fees instead, which may end up costing clients more as our cost-to-serve has increased significantly in recent years. We are certainly not benefiting by clients receiving rebated commissions from product providers. Why should product providers be allowed to turn off commission payments to financial planners and not rebate them to clients? If this is allowed clients will end up paying both commission to the product providers (for no advice) and ongoing fees to their financial planners. This certainly is not in the clients' best interest.
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