A discussion about commission and fees
I was having a chat with one of our professional advisers earlier this week, and we talked about why we charged our clients fees instead of relying on commission as a means of payment. What I said was a revelation to him, commission (he thought) was simply a case of the product provider paying the fee rather than him dipping into his own pocket. He isn’t so niaive as to believe that he wasn’t really paying for it, but the amount of money involved was a real eye-opener.
In the same week as we introduce a new fee structure that relates solely to our advice and service proposition, I am starting a discussion on my personal blog around the whole subject of fees and commission. If you want to read it please go to my own blog Random Thoughts from a Financial Planner.
