Feb 4 (Reuters) - Commonwealth Bank of Australia CBA.AX :
* COMMONWEALTH FINANCIAL PLANNING STOPS CHARGING ONGOING SERVICE FEES
* ESTIMATED IMPACT TO CFP'S PRE-TAX PROFIT AS A RESULT OF THESE CHANGES IS APPROXIMATELY $40 MILLION
* CFP EXPECTS TO HAVE COMPLETED STOPPING OF CHARGING ONGOING SERVICE FEES FOR VAST MAJORITY OF CUSTOMERS BY 1 APRIL
* FROM 1 FEBRUARY 2019, COMMONWEALTH FINANCIAL PLANNING WILL NOT ENTER INTO ANY NEW ONGOING SERVICE ARRANGEMENTS
* CFP TO MOVE TO NEW FINANCIAL ADVICE FEE MODEL WHERE CUSTOMERS WILL PAY FOR ADVICE SERVICES WHEN THEY ARE DELIVERED
* ALSO STARTS PROCESS TO STOP CHARGING ONGOING SERVICE FEES TO EXISTING CUSTOMERS UNTIL CONDITIONS OF ENFORCEABLE UNDERTAKING HAVE BEEN SATISFIED