Former Newpark chief executive and adviser advocate Melanie Purdie says there are many questions advisers should ask before joining someone else's FAP.
She discusses these questions with Philip Macalister in this latest episode of Good Returns TV.
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Considering override (in question from one supplier) is not paid on all products, not paid on GST, not paid policy fees, not paid on per mille loadings, and subject to persistency, then the real figure is 15 - 18% of the actual premium.
Suggestions that standalone Advisers will be able to fund everything themselves based on these figures is questionable.