Informed Choice financial planner Andrew Neligan on why he turned down some £21,000 commission after delivering retirement advice to one client.
I have recently completed some retirement advice work for a client. Nothing exceptional in that, it is something I do regularly. However, what may surprise some people is that I could have earned £21,000 from the advice but chose not to. And, I will do so again. £21,000 is what I could have earned as a commission payment from a product provider for recommending a particular product. This is not an exceptional level of commission; it is standard with all providers and products they offer. My issue with this means of remuneration for advice is: it is not commensurate to the work...
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