Commission
Insurance specialist MarketGuard is offering brokers a 10% introducer fee for all high LTV, low variable rate or failed remortgage client introductions.
The way the financial services industry can protect itself from any mis-selling scandals in the future is by getting rid of commission, warned BBC Moneybox journalist Paul Lewis at the BSA annual conference.
Online payment protection insurance (PPI) provider Paymentcare has increased the commission it pays brokers switching clients’ policies to one of its products to 30.8%.
Other Commission articles
This is the Mortgage Solutions weekly talk back page.
With less than a year to go until it is banned outright for IFAs, almost a fifth of advisory firms remain entirely reliant on commission, research suggested.
Enness Private Clients, the mortgage and high net worth specialist, announced each of its advisers completed, on average, £36.3m of business in 2011.
The FSA is proposing to change the way it calculates regulatory fees to replace the existing headcount of approved persons with an income measure from 2013/14.
In case you missed anything, this is our rundown of the biggest stories and features hitting our headlines.
Paymentcare.co.uk has vowed to maintain its commission fee structure, following Paymentshield’s decision to cut brokers’ fees to 5% if they have failed to write any new business over the last 12 months.
Paymentshield has informed brokers that their commission will be cut from 27.5% to 5% on 1 November if they have not written any business with the provider over the last 12 months.
Optima Legal’s professional support lawyer, Nicola Hoskins, explains why the definition of a broker's relationship with a client is vital in the event of a dispute arising over commission.
A bogus financial adviser who fraudulently manipulated his “clients’” pension funds to avoid paying tax of over ₤1.9m has been jailed at Hull Crown Court for three years.
Paradigm Mortgage Services, the mortgage services proposition, has linked up with short-term asset lender borro.
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