Towry Law backs Friends Prov GPP commission ditch

Friends Provident dropped initial commission on new schemes last month to boost profits as a part of its strategic review. Towry Law’s comments follow a year of anti-commission campaigning by the financial services group, which believes the remuneration method creates a conflict of interest between the client and the adviser that may lead to inappropriate advice and recommendations. Pan Andreas, head of employee benefits at Towry Law, says: "The employee benefits market still provides too much temptation for advisers to make recommendations based on the level of commission paid. “Buying...