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Comments
payment for IFA work
What Stevwn Martin seems not to understand is that an IFA should not 'sell' the products at all! Commission is a very useful way for an IFA to received remuneration for advising on and arranging business for the client. If all products of a type paid the same level of commission there would be none of this hyped up fuss about bias in recommendations. Common sense has yet to prevail.
Posted by: Derek Vivian
Multi-Tasking
So Steve Martin is not only a banjo player and an IFA - he now thinks he's a comedian!
Posted by: Tim Holley
Why is this so difficult to understand?
to Derek Vivian, i quote from your comments,'Commission is a very useful way for an IFA to received remuneration for advising on and arranging business for the client'. My question to you is simple, what if the product pays no commission i.e. paying off a mortgage, a bank account, national savings etc? For as long as you need to shift commission paying products to make money you have an innate bias to recommend products that pay commission. You can dress it up anyway you like but that is the reality. Simples
Posted by: Steven Martin