Friends Provident has added a commission flexibility option to its Wealth Solutions bond.
The move, an attempt to boost its invsetment bond offering, means advisers will now be able to customise the commission to suit their clients’ requirements.
Advisers can now give up some or all of the initial commission, in order to increase their client’s investment. This could also serve to reduce any establishment charge.
If the adviser increases the amount of fund-based renewal commission, it will increase the client’s annual management charge.
A further 0.25 per cent commission will be available on the first £100,000 invested if advisers submit their bond business online.
Friends Provident director of marketing James Ward says: “The addition of commission flexibility means that advisers have a wider range of options to choose from in order to maximise their own commission or reduce their client’s costs over the investment period.
“We have introduced this option as part of our commitment to meeting current needs – one of which is to allow the adviser to be in control of the charging structure.”