Brokers want service and commission for their schemes
Half of all UK brokers are managing various types of schemes and they want high commissions to keep it with one provider, according to a study.
The research, conducted by MMA found that the South West and Wales were the most likely to run their own schemes and that 61.4% of national brokers managed schemes compared to 49% of super regionals and 45% of regionals.
The study also found that roughly 17% of schemes were retendered annually with 48% brokers citing commission as the main reason for moving a scheme to a different provider.
However, poor service was also a strong motivator to move with nearly 43% of brokers citing this as an
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