Which? calls for change to commission based payments

Time for a change: restoring and maintaining consumer confidence in the financial services industry argues a string of mis-selling and other scandals have led to public mistrust which compounded by poor market performance has led to disastrous consequences, particularly for pensions. The consultation document calls for several changes but likely to be one of the more contentious proposals is a change in sales and business culture moving away from the current commission based fee structure where, says Which? “sales staff are rewarded by the volume of sales at the expense of customer care a...