Findex to adopt fee-only advice model

Findex Group will move its financial advice licensees away from commission-based payments for risk advice and implement a pure fee-for-service model.

A spokesperson for Findex Group confirmed to ifa’s sister title Risk Adviser that the non-aligned group will transition away from its current hybrid commission model and introduce a fee-for-service model from 1 July 2015.

“Findex and Centric Wealth – one of its companies – will move to a fee for service model for insurance, and over the next few months Crowe Horwath will also convert to a fee for service model,” she said.

“They will get rid of commissions completely.”


The spokesperson said the decision to move to a fee-for-service model for risk advice had been something the group’s chief executive Spiro Paule “had been considering for years”.

Findex Group’s remuneration change follows the recent announcement from non-aligned licensee Fortnum Financial Advisers that the firm will adopt a fee-for-service model, with hybrid or level commissions in a bid to “self-regulate and ward off further legislative attack”.

partner features

AMP and Centrepoint Alliance have also announced they will drop upfront commissions.

Findex to adopt fee-only advice model
ifa logo

Subscribe to the ifa bulletin

Receive daily online news,analysis, reports and business strategies
By signing up you agree to our Terms of Use and Privacy Policy

Website Notifications

Get notifications in real time and stay up to date with content that matters to you.