As part of the provider’s plans to target advisers writing protection business and to promote the link between IFA commission and the volume and quality of business, L&G is offering advisers the opportunity to influence their remuneration by linking reward to business quality.
L&G managing director of intermediary distribution Duncan Crocker says: “The focus in this market should be shifting from sales volume to quality sales volume and we intend to offer clear direction to advisers to encourage them to improve the quality of the business that they put through.
“In the current market, business quality can come under threat as clients discontinue their policies. It is vital for the future health of this sector that the interests of the provider, the adviser and the client are all taken into account.
“Such an approach involving strong collaboration between manufacturers and distributors will preserve the long-term integrity of the market to the benefits of all involved, especially the client.”