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19 Feb, 2008

Published: 11:28 Tuesday 19 February 2008
By: Chris Marshall, Insurance Correspondent

Friends Provident has added a flexible commission option to its Wealth Solutions bond in what the insurer said was part of plans to boost its investment bond offering.

Friends (FP.) said that advisers would be able to choose one or a combination of the following options: to increase their client's investment by giving up some or all of the initial commission; reduce their client's establishment charge by giving up some, or all of the initial commission; or increase the amount of fund-based renewal commission.

The change comes after the FTSE 100 company announced a major strategic review and new business figures showing increased lapse rates across all of its investment bond products.

James Ward, director of marketing at Friends Provident, said: "The addition of commission flexibility means that advisers have a wider range of options to choose from in order to maximise their own commission or reduce their client's costs over the investment period."

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