According to Friends Provident, advisers will now be able to customize the commission to suit their and their client’s requirements. With this option, it is now possible to increase their client’s investment by giving up some, or all of the initial commission.
It is also possible to reduce their client’s establishment charge by giving up some, or all of the initial commission, and increase the amount of fund based renewal commission. This will increase the client’s annual management charge.
By choosing one or a combination of commission options, advisers can select the level of charges to suit each client.
James Ward, director of marketing at Friends Provident, said: We’ve 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.
