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Extensive commission changes and another new agency agreement

Several companies have updated commission terms and one has a new agency agreement: 

  • AIA - has ended temporary extra commissions that were part of a limited-time offer
  • Asteron Life has rejigged initial commission, and added a temporary extra, as well as extended aggregator override. 
  • Fidelity Life has ended new business commission on indexation increases
  • Partners Life has issued a new agency agreement giving additional powers to manage expected conduct obligations. Possibly the most interesting addition is a new section which requires an adviser whose client wishes to be served by another adviser to negotiate the sale of the renewal commission - or have it switched, with compensation paid by Partners Life if they cannot agree. 

More details are available to subscribers to the commission comparison report. 

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