Phil Thompson

speaker

1,592 appearances 4 recordings 3 series first heard Apr 2026 last heard 25 Aug

Phil Thompson’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 4 in all, peaking in Aug 2026 with 1.

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Mm-hmm.

So all insurers, it's standardized.

So a number of years back, the government came in and made some changes where they lowered initial commissions and increased ongoing commissions.

So advisors get paid an upfront commission and an ongoing commission, similar to like mortgage brokers get paid.

So that's kind of how it works in terms of the actual commission and how it works.

It's 66% of the initial premium is paid as a commission and 22% ongoing commission.

Exactly.

Is that right?

From an advisor?

Yeah, no, it's all the same.

Okay.

Sorry, not flat fee, it's a flat percentage.

Yeah, so, I mean, there is an incentive.

I could say, hey, Gemma, pay $5,000 for these prairies instead of $2,000.

We could otherwise get you.

And so there is that underlying incentive, but I've got to –

Tell you to spend $5,000 instead of $2,000.

And the other thing is, and I'll answer the other question, but I'm an incredibly mistrusting human being.

I'm so skeptical.

So in our advice documents, we actually show a full list of the comparisons.

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