ST has a story today on life companies ‘offering commissions of up to 20% to advisers who sell their pension plans in a blatant bid for business post A-Day’. The article addresses a question left out in the piece last week on trail commissions. Who is at fault: the provider offering the incentive, the adviser taking it, or both? The article quotes spokesmen for each.
read more Commentary by Stuart Fowler‘Here’s a genuine reward, with not a serpent in sight’, read the blurb. We rarely single out individual firms as it can detract from the generality of an idea. Yesterday’s post to No Monkey Business (as a potential business introducer) included an example of commission bias at work but since it claims to be a response to demands from the IFA community, it does itself claim to make a general point.
read more Commentary by Stuart FowlerPublished in FTfm, 30th October 2006 (Pauline Skypala: on our business model)
read more News by Stuart FowlerSo says Pauline Skypala of the FT in a nice article about No Monkey Business today
read more Commentary by Stuart FowlerThe FSA understands perfectly well that the commission-based model for selling long-term savings products to the public is deeply flawed. In a recent speech to industry leaders, Chairman Sir Callum McCarthy spelt it out. The regulator’s powers do not extend to forcing changes in the business model.
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