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‘Panel will offer 20% more commission than for IFAs’

Thinc and Destini have unveiled the first three of five providers for their multi-tie panel and confirm their merger will go ahead subject to FSA approval.

Friends Provident, Clerical Medical and Aegon through Scottish Equitable are on the panel and two final firms are expected this week.

Thinc chief executive officer Simon Chamberlain says advisers joining the multi-tie offering, to be rolled out from January 15, can expect commission rates at least 20 per cent higher than they would get as IFAs.

But he claims there will be no commission bias within the multi-tie as advisers will get paid the same regardless of which product they recommend. He says this will create a level playing field and will mean providers will only be able to compete on the strength of products.

In contrast to Millfield’s offering, advisers joining the Thinc and Destini model will not be able to switch between multi-tie and IFA.

Thinc and Destini are using a combination of IT systems for the multi-tie, which will offer a complete suite of each provider’s products.

Chamberlain says: “We expect our multi-tied advisers to make at least 20 per cent more than they made as IFAs and we believe the proposition we have created is more independent than independent propositions, as our multi-tied advisers will get paid exactly the same whatever the client wants, so there cannot be commission bias.”


Independent view

The BBC’s disclaimer seems to be pointing everyone in the direction of IFAs but what will multi-ties make of it?

AIFA’s view – Fay Goddard

As 2004 draws to a close, it’s out with the old and in with the new. We now have the final rules for depolarisation, stakeholder pensions and basic advice, not to mention a whole new set for the mortgage and general insurance sector.

It’s the real thing

I have built up considerable amounts of cash. Where can I get a real return from my investments, as I believe it has become harder to make certain profit due to a considerable level of volatility and unpredictability in stockmarkets?

Iain Chadwick

The Budget 2015: a brief overview

Following George Osborne’s delivery of his sixth Budget as chancellor and the last of this current parliament, we have provided a brief overview of the initiatives put forward in his statement, focusing on the topics that have an impact upon the pensions landscape, savings, personal taxation and businesses.


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