Trail commission is still important to the income of almost all advisers, according to research by software provider Intelliflo, despite the looming deadline that will see the payment method switched off for many of their clients.
What did the Romans ever do for us? Part I
Advisers could lose thousands of pounds in probate fees as platform funds are being converted to clean share classes, which don't support ongoing trail payments upon client death.
Small firm consolidation in the financial advice market has yet to materialise as predicted because many owners are "hanging on" to the trail commission they earn on pre-Retail Distribution Review (RDR) business, according to one acquirer.
A tool allowing advisers to discover when providers will switch commission payments off on pre-Retail Distribution Review (RDR) business has been launched.
HSBC is to review historical pension transfer cases to see if it is earning trail income for ongoing advice it is not delivering.
The vast majority of advisers have faith they will adapt successfully to a world without trail commission, but one in ten say it could mean they cease trading, according to a survey.
Nearly half of advisers already have the majority of their recurring revenue coming from fees, according to a FundsNetwork survey, with less than two years to go until the April 2016 deadline where all on-platform assets need to be moved to clean share...
Scottish Widows will continue to pay trail commission on workplace pension schemes until 2016.