The overall commission paid to brokers and advisers offering The Asset Protection Strategy to their clients rose to £675,000 during 2011, an increase of 187% on 2010 (total commission of £235,000).
On average, intermediaries made £750 per case during 2011, with the top broker earning £72,000 from wills and trusts last year, compared to £36,700 in 2010.
Top 3 Brokers (TAPS Commission Earnings 2011):
- Broker 1 £72,000
- Broker 2 £64,000
- Broker 3 £48,000
The Asset Protection Strategy is a one-stop-shop that enables brokers and advisers to offer their clients comprehensive wills and trusts planning.
It is an end-to-end service, comprising bespoke training courses, a legal services provider for the creation of the wills and trusts, and ongoing sales, marketing and technical support.
Intermediaries offering The Asset Protection Strategy do not give advice and are not required to possess a detailed technical understanding.
Jeff Smith, Commercial Director, The Asset Protection Strategy, commented:
"With the mainstream mortgage market static, and lots of clients sitting on their cash, more and more intermediaries are looking to boost their existing revenue through other means — and asset protection is a popular option.
"When you explain to clients just how vulnerable they are without wills and trusts, both personally and financially, they generally want to put the appropriate protection in place as soon as possible.
"Offering asset protection has also been proven to generate additional FS revenue from clients, so the result is a virtuous circle."
