Re: Answers
Thanks again lads for the help, the picture is clearing up quite nicely.
Alan, I'll probably e-mail you sometime over the next few weeks, thanks for your help so far. If you don't mind though, I just have a couple more questions I'd like to ask in the public domain. I'm sure anyone else thinking of an execution only service would be interested too... anyway...
Firstly - I presume that the discount on the 5% comes from some form of commission refund. Is that correct?
If that is the case, does it mean that the discount that could be negotiated depends on the commission paid by the particular provider? In other words if canada life pay you more commission than, say, New Ireland does it make it easier for you to give a customer a lower contribution fee on the Canada Life products?
Again, if this is the case, it could be a big factor for someone trying to choose their provider. Without going into specifics, could you list the providers in order of commission levels? Not looking, necessarily, for details, but if it is actually relevant, just a listing from 1 to 8 or however many you deal with.
I understand that I might be getting a bit cheeky here and that you might not want to go into that level of detail on your business in a public forum, so no offence taken if you don't want to answer all of the above.
Thanks again,
bm