Practical Protection Podcast: Commission vs fees

A bit of a shift away from health conditions this week, as I bring you an Inbetweenysode (not quite a full episode, but still 30 minutes of something I think is well worth talking about). Many people may have noticed the increase in the number of people heading to social media to speak about and debate whether or not advisers should take a fee or commission for their work. During this episode, I talk about some of the pros and cons of both commission and fees, as there is no wrong or right way for an adviser to go about this.

I explain why some firms may choose to take a fee rather than a commission, as well as how commission based models would usually work. As well as talking through the difference between taking indemnity and non-indemnity payments, and the importance of transparency and client choice.

You can listen to the episode at https://practical-protection.co.uk/inbetweenysode-commission-vs-fees/.

It would be great to get your opinion on this, what works well for you and your clients?

Next time, I am joined by regular co-host Roy McLoughlin as we welcome special guest Andy Woollon from Zurich, to chat about the role of protection insurance in intergenerational wealth planning. I find this side of advice fascinating and I hope that it gives you some more ideas too.

Don’t forget to claim your CPD certificate once you have listened to this episode at https://practical-protection.co.uk/claim-your-cpd/.

Our certificates are accredited by CPD UK, through our sponsor Octo Members.

Please don’t worry if your work systems are not keen on the CPD form (it’s a Google form). Contact me on social media or through the website and I will be able to issue the certificate directly to you.