Do financial advisers get commission?
Commission can still exist in some areas such as mortgages and insurance. It is not permitted as payment for pension or investment advice.
Pensions and investments
MoneyHelper states that financial advisers cannot receive commission for advice about pensions or investments. The consumer must instead be charged for the advice through an appropriate fee arrangement.
Mortgages and insurance
For certain mortgage and insurance products, advisers or brokers can receive commission from the provider. Some may also charge the consumer a fee.
You should know how the adviser is paid
An adviser should explain how the advice is charged and paid before you commit. If commission applies, understand whether you are also paying a direct fee.
Payment method is not the only comparison
Compare product scope, service, adviser restrictions and total cost. A service with no upfront fee can still have economic costs built into the arrangement.