Not happy.

dunstonh

zagfles wrote: »

According to this article http://www.moneymarketing.co.uk/news-and-analysis/politics/consumer-panel-sets-out-huge-gulf-in-non-advised-annuity-commissions/2004222.article non-advised commission for a small pot is between 0.75% and 3.35%, and there are discount brokers who'll rebate part of the commission eg http://www.annuitydiscount.co.uk/

There was an article recently that found the average DIY commission as 3.5%. However, as said, that alone is not reason enough. I have frequently charged more than the commission payable to a DIY service and ended up with a better result.

Rebating commission is a farce because the "retailer" decides the commission to take.

zagfles

dunstonh wrote: »

There was an article recently that found the average DIY commission as 3.5%.

URL?

However, as said, that alone is not reason enough. I have frequently charged more than the commission payable to a DIY service and ended up with a better result.

I presume then if someone came to you saying "I've got an online quote for £xxx, beat it net of advice fee and I'll go with you" you'd accept?

Rebating commission is a farce because the "retailer" decides the commission to take.

Doesn't the provider set the commission (ie what they'd take if the customer went direct)?

Will the RDR stop non advised commission like with funds?

dunstonh

I presume then if someone came to you saying "I've got an online quote for £xxx, beat it net of advice fee and I'll go with you" you'd accept?

Depends on how busy I am at the time. Strictly speaking, you are not meant to do that but commercial reality is that you may well do.

Doesn't the provider set the commission (ie what they'd take if the customer went direct)?

No. The providers only have a maximum they allow. It is up to the firm to decide how much they put on their quote system.

URL?

i will look it up. It was part of the recent coverage over annuities and the DIY market concerns.