Adviser remuneration 'evolving' - Skandia

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The traditional commission structure of the adviser market is evolving with IFAs opting for more varied ways of being paid, according to Skandia.

Figures from the firm’s latest pension series show 69% of advisers are opting for its fee deduction scheme over traditional commission. In addition, 90% of those receive a combination of initial and ongoing servicing fees based on a percentage of the policy value. A fee deduction agreement is where the adviser’s payment is agreed with the client in advance and deducted from the policy. Skandia says the figures demonstrate the market for adviser remuneration is continuing to evolve in line with the changing nature of the financial advice market. Billy Mackay, head of marketing at Ska...

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