Business Services Industry
Fee-for-service upsurge.
Australasian Business Intelligence, December, 2005
Byline: Ross Kelly
Dec 02, 2005 (Money Management - ABIX via COMTEX) -- RetireInvest has transferred its financial planners to a fee-for service remuneration
model. The group joins other major Australian financial planning groups, including AXA, ANZ Financial Planning and
MLC, in moving its advisers off a commission- based payment model. According to RetireInvest MD George Haramis, one-fifth of the group's more than 200 planners have already adopted the fee-for-service model, with implementation to be completed by 2006. The changes come as the Financial Planning Association finishes its Code of Practice on conflicts of interest.
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