End of the road for referral fees
Brokers who are reliant on referral fees should be looking for alternative revenue sources.
The controversy surrounding the use of referral fees refuses to go away despite the decision by the Legal Services Board (LSB) to rule out a complete ban.
Although brokers may have thought it was a case of ‘business as usual’, Jack Straw’s involvement in the debate has brought the issue to the top of the national agenda and raised the possibility of further political involvement.
Add to this Axa’s decision to no longer receive referral fees and the Association of British Insurers’ (ABI) constant
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