I read that the FSA have decided to soon stop any financial adviser being paid by way of commission from insurance companies. Personally, I've always thought commission was fine as long as the client knew how much it was and was properly advised.
Perhaps I should say that personally I have a Chartered Financial Planner who charges fees only. Fine by me. But I actually chose him as I rated him and trusted his company, Informed Choice.
Lawyers in general seem to think it is impossible to move away from hourly charging. In fairness there are Rules which push us towards charging by time. But we try really hard to agree a fixed fee in every case. Here are some example fixed fees for legal work.
Oh, and "how much commission do you get" we are often asked, as we often suggest to clients that they speak to an IFA or, say, an accountant or pensions specialist. The answer is "none". Our position is this: "we never take or pay commission to anyone, ever".
Easy!
Andrew Woolley
Divorce Solicitor