IFAs do want more flexible commission structures - ScotLife

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Scottish Life has released figures suggesting increasing numbers of IFAs and their clients are moving towards more flexible commission structures.

The company says over 75% of their new business is now written using its Financial Advisers Fee (FAF) system, launched in 2003. Alasdair Buchanan, group head of communications for Scottish Life, describes the system as one possible way of solving the remuneration problems currently facing the industry. “The fact that around three-quarters of the provider’s business uses FAF demonstrates a practical way for IFAs to operate and highlights the way that the market can develop," says Buchanan. "FAF mirrors the FSA menu approach to disclosure regarding charges. The adviser states what ...

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