Anonymous

18 Apr 2019

∙

What is the difference in fees between engaging an insurance agent or an FA (tied/independent)?

While I still need more information to make a decision, I'm interested in a certain policy which I have generally reviewed and deemed it fairly suitable for my needs. Other than the extent of advice, is there a huge disparity in fees paid to the different types of middlemen?

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Hariz Arthur Maloy

12 Dec 2018

Independent Financial Advisor at Promiseland Independent

Tied Insurance agents may make more in comissions paid directly to them than FAs. FAs would usually have a banding % with their FA firm.

Fee based advisors charge a service fee upfront but may rebate you the comissions paid to them as part of their service package if you get a product from them (not all though, some take both).

But either way, you don't pay any different for comissions. It's already in the policy.

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