The company said “in contrast to other providers turning off trail commission Canada Life is emphasising its position that an adviser’s remuneration is a matter for them and their clients”.
Nick Harding, propositions and marketing director, wealth Management and retirement income at Canada Life said: “Ultimately, how advisers are paid is a matter for them and their clients as only they know the level of service being provided.
“We’re aware that many advisers provide a great amount of work on legacy business with client meetings, complementary advice and on-going reviews. If they and their clients are happy that trail commission is sufficient payment for these services, then that should absolutely be an option available to both parties. Unless the ruling changes on this, this will continue to be the case with our products.”