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I'm fully aware of the exit fees on some old products. Are you aware that many of these have now been waived? MLC have waived all exit fees on their old Gold Star products.

With your client you need to go to the product provider and point them in the direction of the new legislation banning exit fees - get them to remove it.

As far as the commission goes, why wouldn't you rebate the commission to them and then charge them a fee, if you charge them the same fee as what the commission amount is, then they actually pay less because the super fund will rebate some of the GST credits they receive, but you still receive the same.

I use FirstChoice in my business, had a whole bunch of clients paying the 0.6% trail plus an adviser service fee of 0.4% to give me 1.0%. I Changed them over to the Wholesale product years ago, Colonial rebate the buy/sell spread so there's no loss to the client and now I have no grandfathered commission to worry about, same client base and no issues.