RDR paper 'common sense': Transact

The industry veteran thinks the regulator's plan not to ban commission on protection products is on balance a sensible move because of the "dire shortage" of protection take-up. "There is a dearth of life insurance amongst the public - and anything that can improve that I welcome," he says. However, he issues a warning to those companies looking to profit from maximum commissions at the expense of policyholders. "What annoys me intensely is if the client sees no benefit when an adviser chooses to accept less than the maximum commission," he says. "That saving must be reflected as a...