Who benefits from this bonus program?

When the head of a large wealth management organisation openly states that adjustments to the bonus program for financial advisers mean that they get more pay if they reduce discounts offered to their customers it demonstrates that the interests of clients and advisers in many financial service firms are far from being aligned. In the same interview the manager also admits that advisers are being asked to sell more products to their customers. This also is in many cases contrary to the best interests of investment clients. Both aspects underline the need for impartial and disinterested independent advice when dealing with brokers and financial service providers that are working on a commission basis.