Fined AWD revamps adviser bonuses

Since January 1, the national IFA says it has been operating a system that will see registered individuals (RIs) rewarded for the quality of their advice rather than the number and profitability of sales. Marketing director Martyn Laverick says the move means advisers with a falling balance sheet will still receive a bonus if they have practiced good financial advice. "Our bonuses are now centred on quality rather than quantity," he says. "We felt it was the right thing to do." In December, the FSA handed AWD Wealth Management a £1.12m fine for "serious failings" the regulator conclud...