Statement from Andrew Hagger, NAB Wealth Group Executive and CEO of MLC:
“We welcome John Trowbridge’s independent final report released today. The review process was comprehensive and involved consultation with many stakeholders.
“We recognise the report addresses complexities, recommends improved remuneration practices and aims to balance stakeholder interests whilst focusing most importantly on the needs of individual customers. We will now take the time to consider its findings.
“In 2014 we took the step to move NAB Financial Planners away from upfront commissions. Of course, to effect positive and lasting change we need an industry-wide solution.
“It is important we work together to engender trust and confidence in the advice process and ensure more Australians receive the advice and insurance cover they need.”
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