commission

Initial commission is a disappearing concept among investment intermediaries, as Merrill Lynch Investment Managers has evidence to suggest IFAs have shifted from commission to fee-based remunerated advice.

Clerical Medical has announced plans to increase their commission flexibility with the launch of a Stepped Charge Option for group pensions.

Comments made by John McFall, in the House of Commons last week, on the problems with a commission-based model has provoked a flurry of responses from IFAs.

John McFall, chairman of the Treasury Select Committee, has attacked commission-based payments attached to product sales, claiming they create an "inherent conflict of interest" for intermediaries.

A permanent Pensions Commission should be set up to oversee the future of the UK pensions system and promote consumer confidence claims the Trades Union Congress (TUC).

IFAs and multi-tied advisers are being asked to get involved in a survey which will form part of the next stage of the ABI's review into the use of indemnity commissions.

The consumer watchdog Which? has published a discussion paper calling on the financial services industry to work with it to restore consumer confidence by, among other things, reforming commission based payments.

The Association of Independent Financial Advisers has opened a consultation with its members to determine whether it should multi-tie advisers should be allowed as members.

Norwich Union is raising commission on personal pensions from 18 July, citing FSA proposals to scrap the RU64 rule.

The Pensions Commission believes it is impossible to determine the 'adequacy' of retirement saving by looking at the level of national savings rate.