Royal London - financial advisor costs!

_Annoyingmonkey

I've recently set up a Royal London life insurance premium as advised by my financial advisor who also arranged our mortgage. I've now received my paper work from RL which states that my monthly premiums include a £600 cost which they pay to my financial advisor for arranging my cover. This is the first I've been made aware of it, therefore do I have to pay this? I would have sorted out the cover myself if I'd known!

Looking for advice thanks

caprikid1

Royal London have told you they pay him for the work he has done for you ????


Did you pay him for setting up the life policy ???


Do you work for free ???


I doubt you would have got the same policy cheaper / applying direct

dunstonh

This is the first I've been made aware of it, therefore do I have to pay this?

You are not paying it directly. Royal London are paying it to the adviser.

How did you think the adviser was going to earn their money?

bigjl

_Annoyingmonkey wrote: »

I've recently set up a Royal London life insurance premium as advised by my financial advisor who also arranged our mortgage. I've now received my paper work from RL which states that my monthly premiums include a £600 cost which they pay to my financial advisor for arranging my cover. This is the first I've been made aware of it, therefore do I have to pay this? I would have sorted out the cover myself if I'd known!

Looking for advice thanks

Do you work for free?

elle_may

Many years ago when our mortgage provider setup our mortgage protection from Scottish widows, we were told what the fee would be from the broker and if we wanted to pay it to him upfront or put it on the monthly fee. As it was a small amount we paid him. You should have been made aware of this before you signed the paper's. As said, nobody work's for free.