The ABI seems to forget that more than 60 per cent of all investment products are sold through IFAs, many of whose clients still prefer to pay, even in part, by commission.
Just whose interests does it think it is representing?
The issue has been underlined by Scottish Life, which commented recently that it was “quietly amused by insurers who are buying up distribution and yet stating publicly that they are committed to the independent community”.
I understand that the ABI exists to represent the views of major product providers, but it seems that this organisation is trying to manipulate the market away from any form of payment by commission.
Alpha to Omega (UK)