Non-bank lender Pepper Money has confirmed that it will continue to pay trail commission payments to its advisers, regardless of whether or not a customer goes into financial hardship.
Pepper Money’s country head Aaron Milburn says the trail payments will continue until at least 31 December 2020, at which time the position will be reviewed. He says the measures should help ensure that advisers are not negatively impacted during the economic downturn.
“I suspect most adviser’s concerns have been for their customers first and foremost, so Pepper Money has taken a proactive stance on this issue in order to provide comfort and certainty during this difficult time,” Milburn said.
“In making this decision, we are keen to ensure that advisers can continue to provide answers and guidance to those impacted communities wherever possible.
“Pepper Money aims to be supportive of the adviser channel and by making this decision, we are providing advisers with the support and certainty they need in these difficult times so that they aren’t impacted also.”
Pepper Money encourages advisers to reach out to their aggregator for more information on what all lenders are doing in this space.