Commission on protection sales works out higher per hour for advisers than earnings on most mainstream mortgages, Legal & General says.
The firm says selling £125,000 joint life and £125,000 critical illness cover on top of a mortgage could earn an adviser three times as much commission as the sale of a £125,000 mortgage alone. The firm argues advisers should embrace the protection market to make up for a shortfall in mortgage procuration fees in the current market volatility. It says once an adviser has taken the time to complete a ‘fact find’ and got to know the customer for the mortgage sale, there isn’t much extra work to do to add on the protection sale. Karen Blatchford, commercial director for housing at Legal ...
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