JBWere’s new adviser remuneration model welcomed
The Stockbrokers Association of Australia (SAA) has supported the change in JBWere's remuneration model to its advisers which will help reduce their reliance on grid commissions.
SAA has welcomed such a decision and appreciated a move towards introducing an outperformance pool and profit sharing, describing it as "a positive development for the wealth industry".
SAA's chief executive, Andrew Green, also noted that such a move marked the evolution of the traditional stockbroking business model to providing clients with "one-stop financial advice".
"The move towards fees based on funds under advice is complementary to the evolution and will help to create a stronger alignment between clients and their advisers," he said.
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