churning

As the weeks go by so the debate about the adviser model goes on. In particular, the debate about indemnity vs renewable remuneration is causing a lot of chatter.

Life companies' plans to penalise IFAs whose client persistency is low have been slammed by an adviser.

Prudential is changing its distribution model to favour intermediaries who want to move away from initial commissions to fees and 'factory gate' pricing.

The Financial Services Authority has attacked the retail financial distribution model for being unreliable, untrustworthy and failing to establish long-term relationships.

Pensions ‘churning' in an industry-led personal accounts system, but which is not driven by intermediaries, could play an important part in driving down costs.

Financial advisers' business activity is dominated by the search for new clients rather than on building existing relationships, according to a survey by Towers Perrin Tillinghast.