Schroders Personal Wealth launches ‘commission free’ protection offering
By
Michael Klimes
7
th April 2021
3:34 pm
Schroders Personal Wealth is launching a ‘commission free’ protection offering in a bid to close the the insurance gap in the UK.
Under the new service announced today, SPW says it “will not be taking commission on any protection advice from clients when discussing wider financial planning, resulting in a saving for clients.”
The firm tells
Money Marketing that in practice, commission will be passed back to client in the form a discount to the product premium, and there will be no separate advice fee for protection recommendations, resulting in savings for clients.