Don’t underestimate Trowbridge transition pain
No one should under-estimate the level of assistance required to help risk advisers make the transition to the new post-Trowbridge remuneration arrangements, according to Financial Planning Association chief executive, Mark Rantall.
Speaking to Money Management, Rantall said that as the fine detail of the new risk remuneration structures continued to be hammered out, it was clear that risk advisers would need assistance in making the transition.
Rantall's comments on the need to provide assistance to risk advisers appeared to echo those of the Assistant Treasurer, Josh Frydenberg, who told the Financial Services Council (FSC) conference that if there was a message he could provide the life insurers it was that advisers were looking to them to help them transition and navigate what represent reforms.
Rantall said that while a number of issues remained to be fully resolved, the FPA and the Association of Financial Advisers (AFA) had been working closely on the issue and were united on the key objectives.
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