Asteron Life has announced it has reviewed its commission structure for advisers.
Asteron Life Executive Manager Life Distribution, Graham Hill, says the review was undertaken, “…to ensure that we are balancing the need to fairly remunerate advisers, with ensuring that we are not inadvertently incentivising behaviour that leads to poor conduct”.
As a result, the insurer confirmed it has added a permanent 150 percent upfront/20 percent servicing commission to its standard rates.
“This rate has been available on and off since 2017, but we are now making it permanent because we see it as a really viable option for Advisers to develop sustainability in their business,” said Hill.
“As a result of adviser feedback we are also reviewing the production bonus structure on our products, with a view to combining this into the overall upfront commission which will allow greater flexibility in providing customers premium discounts through reducing commissions,” he added.
Asteron Life intends to release further details on these changes later in the year.