commission

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.

I recently saw that BMW has launched the next generation of its extremely successful Mini. To be honest, it looks to me very much like the previous generation and some would argue ‘and why not?' when its first generation model's sales exceeded all expectations....

Perhaps it's just me, but I'm beginning to think that our industry should stop banging on about how commission only fails everyone.

Is it just me or is it finally the case that analysts and other industry observers are finally beginning to get their heads around the concept of persistency and its interfering little brother, churn? I see it as a rather straightforward issue.

Recent research from IFA Promotion shows that 600,000 sensible people use one of the 52 white-labelled IFAP ‘find an IFA' search database. They are asked the question - how do you want to pay for the advice? Do you want an IFA who charges a) commission...

UK financial services may need to review its business model as the savings sector is regarded as a "middle-classed market", suggest panellists attending a Labour Party Conference fringe meeting.

Consulting firm Deloitte claims the life and pensions industry needs a new business model as "undifferentiated, high cost advice for all customers is a waning proposition".

Callum McCarthy has criticised the commission-based business model used by life companies and IFAs, suggesting it can lead to "inappropriate advisory activities".

In response to the Which? research on financial advice - Which? points finger at adviser failings - and comments by LibDems treasury spokesman, Chris Marsham of C&M Financial Services in Newton Abbot, says:

In response to Martin's Bamford's blog -   The public is very confused - Adrian Kidd from Mintzone, London, says: