Is it possible to reach a catch-all definition of commission that accurately reflects what a financial adviser does for an income?
To put a finer point on it: should the word 'advice' ever be used in a definition of commission? We asked readers of IFAonline.co.uk and Professional Adviser magazine to give us their definitions of commission. Here are a selection of the best: "Commission is a payment by the provider under a contract with the agent (adviser) for assistance provided in selling their product. In truth it has nothing to do with the clients (the buyer) or advice, but it does create a conflict of interest for the agent, if he is also providing advice to the buyer." Mark G "It is the difference b...
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