The Lord of the Secret Commissions – the grey area between clients, brokers and product providers
Picture the scenario, you are looking for new financial or energy deal, for ease you appoint a broker to find the best product on the market.
This is common place, but has your broker received a commission from the end provider and have they told you about it?
Have the broker and provider had a conversation about the commission that might be similar to that between Gandalf and Frodo in the Fellowship of the Ring “Is it Secret, is it Safe?”.
In this article Jonathan Stimmler will aim to give you a brief overview of the grey area that exists between clients, brokers and product providers and the latter’s duty to disclose the presence and amount of commission to the former.