Dealer group to pay commissions direct to members

MySolutions, which has 280 adviser members, has made a significant change to how it works and now full commission paid by insurers goes directly to members.

It has also introduced a subscription model, group chief executive Kevin Smee says members will be “paying a nominal fee of $50 per month for membership of the group and access to its group benefits, ongoing business development training sessions and basic member services.”

Since Partners Life introduced its FAPO model Fidelity Life has come out with its own version and Good Returns understands Asteron is putting the finishing touches to a new remuneration model.

Smee says under its new model members “will generally be many thousands of dollars per year better off just through accessing the groups buying power, and that’s before we factor in the pay rises, they are pretty much all getting from the insurers.”

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