Hi, let’s jump in the “commission issue” wagon I’ll try to remain on the line of the full disclosure, basically we are giving a cut of the commission on the first year only so that the advise isn’t biased. To be even more honest, brokers are usually paid 10% of the premium (on the net premium thought, which is usually roughly 10% less than the premium you’re actually paying). As per legal requirements we are not paying referral fees from the 2nd year and beyond so we actually “take the hit” on the first year by not keeping the full commission (sharing it with SFN in that case) and then we get the normal commission on the following years. It’s important to understand that the commission is always there, whatever you go to a local agent, online, through a broker or even direct with the company it’s still there and the only thing that changes is the one who claims it
Whatever the origin of the referral, I try to advise as honestly as possible and some here might (hopefully) confirm that I’m actually a terrible sale agent, as I’m mostly pitching for the lowest end offers that seems the more relevant to me in most cases rather than the higher end alternatives.
To put that simply, loyalty is what’s keeping us afloat nowadays, not one shot deals