Advisers vote with feet on hybrid commissions

Since launching its ‘transition to hybrid’ program in March 2014, 829 financial advisers have registered to join the initiative, naming sustainable business growth as the chief trigger.

Amien Sym, director of Western Australian firm Infuse Life, has signed on to the program, saying it came about at just the right time.

“Looking at where our business is going over the medium to long-term, sustainability is the main focus,” Mr Sym said.

“The decision to move to a hybrid commission structure allows us to increase recurring revenue over time and drive new business growth, so I can see why so many other advisers are following suit.”

AIA Australia CEO Damien Mu welcomed the growth figures and urged advisers to sign up before the closing date of 30 September.

“It’s great to see such a positive response to the program since its launch. Research we conducted with advisers highlighted their desire to move to hybrid and level commissions, but also the barriers to doing so.

“We’re confident that this program can help advisers increase the value of their business over time, so the time to sign up is now.”