AFA announces life insurance roadshow
The Association of Financial Advisers (AFA) has announced a national Life Insurance Roadshow to help advisers providing life insurance advice transition from upfront commissions to hybrid commissions.
The Roadshow, ‘Facing into Transition', will begin later this month to help advisers deal with the changes arising from the Life Insurance Framework (LIF), and will travel to all major capital cities.
AFA chief executive Brad Fox said the Roadshow is the next step after the LIF question and answer session held during the AFA's National Practitioners Roadshows earlier in the month.
"Advisers have told us that they need support to adapt to the proposed changes," Fox said.
"They want the opportunity to workshop how to most successfully use hybrid commissions, how to help clients accept a separate advice fee, perhaps alongside a commission, and how to deal with the three year clawback danger."
AFA's Adviser of the Year finalist PJ Byrne will be the keynote speaker, who will talk about how he transitioned after nearly 15 years from writing upfront commissions to hybrid commission plus a fee.
"PJ will talk frankly about the effect this move has had on referrals, cash flow, business valuation and conversion rates," Fox said.
"He will go so far as sharing the tools and conversations he has around fees and the value of his advice."
The roadshows will also include risk advice specialist Russell Collins, who will talk about how to shelter a practice against losses from clawbacks in the second and third years, and organisational psychologist David Peake.
The roadshows will include a Q&A session.
AUTHOR
Malavika Santhebennur
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