Prudential has shown its hand on its multi-tie strategy in dramatic fashion with its move to add Millfield to Sesame in its list of strategic partners.
Pru says it will offer more commission and multi-ties could get better deals on PI and compensation scheme levies. The numbers may begin to tempt many advisers. Others are having none of it. SimplyBiz's Ken Davy warns this week of multi-tie madness. Falcon Group's Allan Rosengren suggests that a system of higher commission for multi-ties is unsustainable.
Much of the dynamics of any fight for business between independents and multi-ties will depend on just how many advisers multi-tie. The bigger an independent sector the more interesting that particular fight for market share will be.
But for the moment even if the market isn't, opinions on the issue are polarised.