This contrasts markedly with the three other regions where commission is still paid, most noticeably for the 28% of Europe’s advisers who have 40% recurring income or less compared to South Africa’s 36% and Asia’s 43%.
In the case of Europe, South Africa and Asia the percentage of advisers sitting in the 0-5% band of recurring income was starkly lower than in the Middle East, ranging between 7% and 8%.
At the other end of the scale, fee-based advisers are well represented in Europe which has the highest percentage (42%), against Asia’s 29%, Middle East’s 17% and South Africa’s 14%.
However, it is notable that South Africa stands out as having just over a third (36%) of its advisers receiving recurring income in the 80%-100% band, which is well ahead of Europe (0%), Asia (14%) and Middle East (13%).
As for the UK region, where commission is banned the question was around the type of fee taken, with 40% of advisers opting for a percentage fee, 50% using a fixed fee per service and just 10% charging an hourly fee.
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