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Family Assurance cuts charges but keeps commission

Family Assurance Friendly Society is cutting one per cent of initial investment charges off its range of unit trusts with no reduction in commission until January 19.

The initial charge will drop from 5 per cent to 4 per cent while renumeration stays remains at 3 per cent. The friendly society says the move is a way of thanking IFAs for the support it has given them over the last year.

Sales director Peter Burrell says: “We have experienced significant growth of our unit trust sales in the last 12 months. We were keen to find a way of thanking all those who have helped us achieve this success and a financial review seemed to be an appropriate way forward.”

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