New Legislation Regarding Consent To Deduct Advice Fees

From 1 July 2021, an Advice Fee Consent Form must accompany all new business applications for the Life Events Bond and Funeral Bond that have ‘ongoing advice fee’ arrangements.

The Royal Commission made recommendations to introduce annual renewal of ongoing fee arrangements and a requirement that advisers cannot receive ongoing advice fees without first obtaining consent from their client.

Below are links …

Read Article