Robert Reid has simply tried to sidestep the point that Malcolm Murray was making.
There really are a lot more advisers than Robert and David Elms suggested who already derive their income directly from their clients.
For many, it is still early days but they are steadily increasing the percentage of their income paid directly by clients.
We can, of course, emphasise the difficult aspects such as cashflow or VAT if we want to continue to have our income paid to us by insurance companies but the truth is that it is not that difficult to make the change once you have worked out your client proposition.
The problem with commission offset is that your business model continues to depend on the sale of products and the commission you are paid by providers for making those sales. This in itself should not be an issue unless you want to mislead your clients about the way that you earn your living.
Argyle Financial Group