Westpac quizzed on adviser remuneration

Rowena Orr QC has been Grilling Westpac executive Michael Wright over the bank’s remuneration policies as they relate to performance payments to financial advisers.

Wright’s evidence delivered in response to Orr’s questioning sought to explain the principles of the remuneration in relation to adviser bonuses.

The evidence from the Westpac executives follows evidence from a Westpac customer earlier in the day relating to the financial consequences of advice received on their personal circumstances when they planned to start a bed and breakfast.

That evidence from Westpac  is currently continuing at on the commission’s site .

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