FORFEITING initial commission in favour of renewal commission is the biggest priority for driving IFAs' income generation over the coming year, according to research from Lincoln Financial Group.
Just over a quarter (26pc) of advisers cited it as their top priority, while a further 19pc rated it as their second priority. The nationwide survey of 100 IFAs found that switching the focus to renewal commission was more important than other income-generating ideas such as moving to fee-based advice, pushing providers to offer more commission, or improving management information on client profitability. The survey also found that IFAs consider building long-term relationships as the biggest potential threat to their businesses. This was cited as a very great concern by 44pc of a...
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