Henderson delays commission payments to 7,000 advisers

Henderson has delayed commission payments to over 7,000 advisers for three weeks due to additional checks needed following the RDR.

Renewal commission payments are made to over 7,000 advisers in a single batch on a semi-annual basis, but the forthcoming payout has been delayed. This is the first payment since the RDR came into effect, as the group has had to ensure payments made to advisers after 30 December 2012 are compliant with the new rules. The review, which has been effective from the start of the year, has imposed a ban on the payment of commission on advised new business placed after 30 December 2012. The group said: "The additional checks Henderson has needed to make means the commission payment will ...