LEBC: Advisers overhauling business models as FCA focus returns to remuneration

Firms could be at risk of falling foul of incentive rules if they hand out bonuses to unsalaried advisers for selling particular products, or if they reward advisers purely for the amount of business written. Many firms have changed their models to more key performance indicator (KPI) driven remuneration, while others are now feeling the heat of the regulatory spotlight and are set to make changes too, Shelton said. National IFA AWD Wealth Management, now Chase de Vere, changed its pay system following a fine from the regulator in 2009. The move meant that advisers with a falling bala...