Servicing, company agencies and the legislation

I appreciated what Geoff's comments are trying to convey; however, it muddied the water. What needs to be clear is Accuro, like Southern Cross, pay a service commission. This follows the servicing adviser, not the introducing adviser. (With the exception of SX sourced business, they keep that money)

The structure of the Accuro agency is different to a typical life insurance agency, where the money paid is paid for service. In this regard, Geoff's comments have more weight as the insurer on a service commission approach to ongoing remuneration have some responsibility to ensure service is actually happening.

Stepping back and applying this to the life insurance agencies is incorrect, as I have stated a few times, life insurance agencies don't pay servicing commission, they pay longevity of the contract commission as a function of the initial introduction.

Agency agreements have no obligation to provide ongoing service in them. Moreover, frankly, they shouldn't, that is a contract between client and adviser, not adviser and insurer.