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Broker Talkback

Is there a future for initial commission in the group personal pension market?

Yes 63%
No 37%

Yes

“I hope there is but unfortunately some people are greedy, which is why the issueis being looked at.”

Gillian Frodsham, IFA

Yes “It is a good alternative for clients and if they want advice they realise they have got topay for it.”

Mike Morris, Mike Morris & Co

No “We have actually withdrawn from this market ourselves. Friends Provident’s withdrawal will probably lead to other providers coming out ofthis market.”

Geoffrey Kipling, Stuart Higham & Co

Yes “I think any life offices that are removing this are working for the benefits of life offices and notat all thinking of any benefit tothe adviser or to the client.”

Michael Shaw, Jardine Shaw IndependentFinancial Advisers

No “There seems little reason to argue in favour of commission where an employer is payinginto the scheme.”

Graham Legg, Heritage Financial Services

Yes “It does not pay enough to advisers but initial commission ought to remain a viable payment model as it works in the interestof the employer setting upthe scheme.”

Matthew Hall, Morgan Hall Financial Services

No “Things seem to be movingto a more fee-based model nowand I expect it to be even moreso soon.”

Ian Clark, IFA

Yes “Employers are reluctant to pay fees but whether providers will wear it is the question.”

Jon Clark, Big Picture Wealth Management

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