Will CBA switch off trails?
The Commonwealth Bank is actively considering the possibility of switching of trailing commissions.
The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry has been told that the future of both grandfathered and trailing commissions is under active consideration by both the Commonwealth Bank and Colonial First State (CFS).
Under questioning from counsel assisting the Royal Commission, Michael Hodge QC, CFS executive general manager, Linda Elkins confirmed that the future of trails was under consideration.
Answering further questions from Hodge, Elkins said it was possible that a decision would be made to terminate trails.
Answering earlier questions with respect to trailing commissions applying to products, Elkins said that all arrangements were under review.
Recommended for you
With the highest number of candidates in a year sitting the latest financial advice exam, a surge of new entrants are expected in the coming weeks, according to Wealth Data.
AMP has launched a range of five diversified index managed portfolios on its North investment platform, targeting a younger client demographic.
An NSW adviser, who advised over 120 clients after falsifying her financial advice exam results, has been permanently banned by ASIC.
ASIC has released the results from the latest financial adviser exam, the first to be run since changes to its structure earlier this year.
