Five years after introducing its version of customer agreed remuneration in May 2003, Scottish Life said it has found that support from advisers for transparent, fee-based remuneration structures is stronger than ever.
Recent figures show that 93pc of Scottish Life's new regular premium individual business is now being written using a fee-based structure. This compares with 50pc in May 2004 and 87pc a year ago. The remaining 7pc of cases use the traditional initial commission basis. John Deane, chief executive of Royal London's Intermediary Division (which includes Scottish Life), said: "We believe that the use of CAR models, such as our Financial Adviser's Fee, offer a fairer, more transparent and more sustainable solution than traditional initial commission models. "With CAR, the adviser and clien...
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