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政大商學院周冠男副院長接受金融時報（Financial Times）旗下的亞洲市場觀察訪問，英文原文如下。
簡言之，我長期倡議應該將銀行理財專員的薪酬，從總銷售金額（Gross Sales）抽佣制，改為資產存量（Asset Under Management, AUM）抽成制，才能解決理財專員與客戶間的利益衝突。
為什麼？
當理專只要一直鼓吹你進進出出就能抽佣賺錢時，那他會傾向賣他比較好賺的，還是對你資產增長比較有利的？
但如果理專是以你的資產存量部位抽成，那他是不是會更在意你的資產增長，而不是一直要你買賣？
交易摩擦（如交易稅，手續費，佣金）的長期侵蝕效果是很恐怖的，鐵杵磨成繡花針。更何況一般人是從繡花針開始磨，然後磨成鐵屑。
#自制力學堂
分享政大教授在金融時報（Financial Times）旗下的亞洲市場觀察訪問，英文原文如下。
簡言之，我長期倡議應該將銀行理財專員的薪酬，從總銷售金額（Gross Sales）抽傭制，改為資產存量（Asset Under Management, AUM）抽成制，才能解決理財專員與客戶間的利益衝突。
為什麼？當他只要一直鼓吹你進進出出就能抽傭賺錢時，那他會傾向賣他比較好賺的，還是對你資產增長比較有利的？但如果他是以你的資產存量部位大小抽成，那他是不是會更在意你的資產增長？
交易摩擦（如交易稅，手續費）的長期侵蝕效果是很恐怖的，鐵杵磨成繡花針。更何況一般人是從繡花針開始磨，然後磨成鐵屑。
#自制力學堂
Robin Chou, Professor of Finance at Taiwan’s National Chengchi University’s College of Commerce, says the FSC's commission ban will not be very successful if the regulator only forbids funds from paying sales commissions to banks but does not regulate how banks incentivise their sales representatives internally.
He adds that he has long been advocating for an AUM-based compensation for sales representatives but does not expect this change to be forthcoming.
“Some banks have told me that no one will dare to be the first one to evaluate their sales reps on an AUM basis, because whoever does it first will face an exodus in talent. After all, under the new model, sales reps’ compensation income will surely fall, at least in the short term,” he says.
“I understand these banks’ concerns, but I also think that the bank that dares to pilot this model will secure the stickiest customers in the long term. They may even attract some customers who have been ‘hurt’ by other banks,” Chou adds.
Unlike some overseas markets such as the U.K., Taiwan does not have any rules requiring fund sales representatives to disclose the make-up of their commission.
In fact, some sales representatives may still receive “soft compensation” from fund companies, such as expensive training sessions and trips to overseas resorts, according to Chou.
