The head of Norwich Union could not rule out making further commission reductions on a number of its products.
Speaking to IFAonline today, Mark Hodges, chief executive of Norwich Union Life, says the company is keeping its commission payments under constant review as it moves towards an RDR-compliant business model. Norwich Union says it is seeking to 'reshape' its commission payments for its UK life and pensions business, which could impact on advisers and their income streams. Hodges told IFAonline his firm wishes to move away from large initial commissions but will continue to support trail commission in the near-term. "We want our advisers to be rewarded for the hard work they do, but hig...
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