Wallis-Smith Financial says no to commissions
A commission based payment system is problematic in any industry – it means the person you are dealing with has a financial incentive to get results that may not be consistent with your objectives.
This is particularly concerning when you are seeking unbiased advice.
We believe the commission payment model has been very damaging for the financial planning industry and has driven a lack of trust from consumers.
For many years our business has been built on a flat dollar fee model and we have not accepted commissions on new superannuation or investment products.
We are pleased to extend our flat dollar fee model to advice in all areas.
This means we will not accept commission on any new products or services, including insurance and lending products. For new clients, and for new product advice to existing clients, the cost of our service and advice will be fully covered by our fees.
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