About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, October 6th, 8:02PM
Latest Headlines

AXA ups commissions by 33%

To remain competitive in the broker market AXA is upping its commission rates by a third

Monday, July 16th 2001, 6:21AM

Axa New Zealand has raised some commissions by a 33% and is offering loyalty bonuses as it seeks to win the allegiance of financial advisers.

The new business commissions on life and other risk products brings them into line with market rates.

From October a range of new benefits will also be offered to aligned Axa advisers, including a loyalty bonus, in return for them meeting loyalty commitments and minimum business levels.

As part of the change, advisers face new eligibility criteria to be recognised as aligned Axa advisers.

Renewal commissions have also been standardised.

Axa sales general manager Greg Campbell says the new remuneration terms reward advisers for using Axa products and recognised both new and retained business.

Feedback from advisers had been positive, he says.

Axa advisers group president Bob Edwards, welcomed the increases, saying the company had listened to advisers’ requests to bring commission rates up to market rates.

Axa spokesman Ryan Day says the new commission structure affected only risk products, not superannuation of investment offerings.

To qualify as aligned Axa distributors and earn the loyalty bonuses advisers had to reach certain sales targets and training standards, Day says.

"Our changes have made us extremely competitive," he says. However, Axa was not going to pay an "unwise" amount of commission.

Day says the company has no plans to raise its premiums to cover increased premiums.

The company’s next profitability review, due in 2002, would cover issues including premiums, mortality and claims rates, he said.

Some premiums might increase, other might decrease.

"I can’t say we will not increase premium rates. Whether that would be to do with commissions is a different point."

« Club Life comes to lifeAIA cuts ties with Sovereign »

Special Offers

Commenting is closed



Printable version  


Email to a friend
Strategy Thoughts
News Bites
Latest Comments
  • Milestone gets military contract
    “I always get suspicious when Financial Advisors talk about “wellness and wellbeing”. Would love to see one of their...”
    16 hours ago by Brent Sheather
  • Milestone gets military contract
    “I must admit to feeling uncomfortable about the appointment in two ways; Competing against the very company I exclusively...”
    19 hours ago by John Milner
  • Synergy appoints former Sovereign man
    “Congratulations Aaron I know the Sovereign advisers will miss your input and assistance - I am sure you'll enjoy the Consilium/FANZ...”
    2 days ago by gavin austin adviser business compliance
  • AML due diligence puts clients off
    “AML documentation has definitely put off at least two older clients with larger sums. Trust Deeds, changed trustees, ID for...”
    3 days ago by Grandpa
  • Synergy appoints former Sovereign man
    “Really good appointment for Synergy. Well done Aaron. Still can't help thinking the wheel has tried to be reinvented here...”
    4 days ago by John Milner
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News


Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
Site by Web Developer and eyelovedesign.com