Grandfathering Commissions Are Affecting The Mental and Emotional Health Of Advisors
With ever increasing calls by industry funds for a rapid cessation of all grandfathered commissions, the Association of Financial Advisers (AFA) is arguing that there is a significant lack of understanding of the issue with the result that the emotional health and well-being of honest, hard-working advisers is being affected.
In a submission filed with the Federal Treasury the AFA has made clear it is deeply concerned about the consequences of the push to rapidly end grandfathering, claiming that the politicians have simply made not enough effort to genuinely understand the situation.
“We are deeply concerned that there are unintended consequences playing out right now that impact the financial integrity of financial advice practices and in turn the emotional health and wellbeing of honest hard-working financial advisers,” the AFA submission said.
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