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Insurance Brokers -
fees vs commission

Can we have your thoughts please?

The choice between fee for service versus commission based income earnings for insurance brokers and financial planners is a discussion that has been going on for years.

The reason it has been ongoing is because there is no clear cut, right or wrong. Both have their pros and cons no matter which side of the fence you’re sitting.

In 2005 the Australian Securities and Investments Commission (ASIC) conducted a campaign examining insurance brokers' remuneration practices.

The aim of the survey was to better understand the practices used in the industry and confirm that appropriate disclosures were being made to clients of brokers.

More importantly, it wanted to confirm that brokers were properly managing any conflicts of interests and were acting in the best interests of their clients.

Which side of the fence do you sit on? What are your thoughts on this ongoing debate?

Do you have an innovative solution to solve the debate once and for all?

Our team at Jamieson would like to hear from you. Send your comments to info@jamiesons.com.au

If enough responses are received we'll reveal the outcome of our mini-survey in our next newsletter.

The number of potential business buyers actually increase in tough times
As a result of corporate downsizing, the number of unemployed but very qualified business executives increases in bad economic times.

It is generally very challenging for a former corporate executive/employee to find a decent job matching their qualifications especially when they are in their late 40's/50's, so buying an existing business becomes an attractive alternative.
These people are generally very resourceful and experienced in terms of business skills and financial capabilities.

This abundance of qualified business buyers tends to counter the downward pressure on business valuations.

This phenomenon is more pronounced for small to mid-sized companies that tend to be acquired by individuals generally seeking to buy a business as a job alternative.
In tough times the good businesses really stand out. Sellers are driven to sell for many reasons and good businesses are always coming onto the market, so talk to the team at Jamieson today about current opportunities.
Beware; don't fall into the trap of believing just because times are tough that the value of a business is reduced. Demand can actually increase in tough times.

Customs Brokers/Freight Forwarders -
choosing between SME and multi-nationals

Customs brokers and freight forwarders have the important task of keeping goods moving in and out of the country efficiently and meeting all the legislative requirements.

 of the economy in regards to import / export levels and also the effects of international currency fluctuation. Needless to say, both of these are moving targets at present given the state of the world economy.

Price is always a major consideration when it comes to freight forwarding, but sometimes there are other issues to be taken into consideration. It all depends on the level of service you require.

Both the small and large multi-nationals have vitally important roles to play. For example, you may favour the high quality, attention to detail service provided by the SME's but their service normally comes at a premium, or you can choose the normally 'no-frills' lower priced multi-nationals.

Often it is worth paying more for speciality services such as is required for special customs clearances on important and valuable shipments.

Customs brokers are the interface between the importers and exporters and the government regulatory bodies so they are a good barometer when it comes to the health
About Jamieson Corporate Services

For over 20 years Jamieson Corporate Services has provided business valuation and broking services to owners and managers of private businesses.

Our principals are licensed as business agents by the NSW office of Fair Trading.

The firm is a member of the Australian Institute of Business Brokers and the Real Estate Institute of NSW.

Further information is available from our website: www.jamiesons.com.au