Attractive commission options on offer from some providers ahead of the Retail Distribution Review (RDR) contributed to Standard Life's fall in gross inflows to its new-style propositions, its UK chief executive has said.
Operating profits at the insurer rose by more than 60% in the first half of the year, compared to the same period in 2011. However, there was a drop off in money flowing into new-style propositions. Cash was down from £3.1bn in the first half of last year to £2.7bn. Talking to IFAonline UK chief executive Paul Matthews said the some providers were offering "attractive commission terms" ahead of RDR and adviser firms were taking advantage of the option. He said: "There is a commission option available in the market at the moment. A number of companies are offering quite attractive comm...
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