View more on these topics

Clerical Medical introduces new pension commission model

Clerical Medical is introducing a new pension commission model designed to improve persistency rates among advisers.

The Lautro scale which Clerical Medical currently uses is being replaced with a single initial commission option and a fixed three year clawback term with changes taking effect July 9.

Clerical Medical says the new model is being introduced to reward advisers’ good persistency with better long-term fund values and higher commission, particularly for business of five years or more.

The mono charge offering will still be available.

Clerical Medical manager of pensions development Mike Brown says: “This move is about offering greater choice, improving long-term value for clients, encouraging the advice model and rewarding persistent business in what is a long-term savings product set.”

“In addition to a monocharge commission structure Clerical Medical is now offering interim fund charging which is a shorter term charge structure with higher long-term values.

“Pensions are a long-term investment and consumers need support in choosing the right pension and building that pension pot through to retirement.”


Panel calls for commission ban

The Financial Services Consumer Panel has called for a ban on commission payments to advisers but also warned that sales bias must be eradicated. Speaking on the release of its annual report, FSCP chairman John Howard says this is a “vital opportunity” to change the face of retail financial services and avoid future misselling scandals.

IN Partnership members share in dividend payout

IN Partnership is paying its first dividend of 5p since it launched at the end of 2000.Nearly two-thirds of the 500 network members are shareholders and will get payouts.The group made a £1.229m profit in the year to June 30, 2006 on turnover of £28.62m. It expects turnover to reach £33m this year while profits […]

Franchisee claims unpaid commission in court clash

A former Ashley Law adviser who claims he is still owed money in unpaid commission by the company finally took his battle to court last week.Chris Wilson alleges the company was in breach of contract and is seeking to recoup preand post-termination commission he believes he is entitled to.Mr Wilson bought the franchise for Ashley […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm