Contingent charging is 'hangover' from commission - Paul Lewis

Speaking at The Great Pension Debate II in Port Talbot, the journalist said contingent charging is the equivalent of charging commission and throws up conflict of interest issues. "[Contingent charging on defined benefit (DB) transfers] is commission to me," he said. "If a client does one thing, you do nothing, if a client does another, you get paid - there is a conflict of interest from the start, it's a percentage of the amount transferred, a percentage that you only get if they transfer, logically to me, that is indistinguishable from commission, whatever you might call it." Commis...