Stockbrokers and insurance agents generally work on commission, while Registered Investment Advisors tend to charge either an hourly fee or a percentage of assets under management as compensation.
By knowing their way around ticket prices, schedules and flight availability, they have been able to hold their own, despite the airlines' efforts to sell straight to consumers and avoid paying the agents' 10% commission.
The fees of commission-based agents and brokers are tied to specific products and transactions.
Most commission-based agents and brokers are no doubt sincere people trying to do honest work for their clients.
Although even commission-based agents can serve their clients in unique ways, product commissions seem a backhanded way to acquire comprehensive wealth management.
Commission-based agents and brokers often take offense at this distinction.
Home sellers typically pay the commission of the real estate agents involved on both sides of the transaction.
The majority of tied agents and even IFAs work on a commission basis, whereby the product provider remunerates the adviser when you take out one of their products.
Airlines, hotels and car rental firms increasingly want to drive bookings to their own websites, rather than rely on online agents to whom they must pay a commission.
However, the loss of direct commission from airlines made travel agents more beholden to the GDSs, which not only slip them a share of fees but also provide their back-office computing.
ECONOMIST: The travel business: The ineluctable middlemen | The
At the heart of the matter is the way agents are paid--traditionally through a commission, paid by the seller, of 5% or 6% of the home's sales price.
According to Tim Berry, a director of Primary Direct Travel Insurance, travel agents have until now been able to earn commission worth up to half the premium on the insurance.
BBC: News | Your Money | End of the road for insurance bonanza
"Every (ballot) paper will be counted in the presence of observers, the election agents, the polling agents, before the media, " Secretary of the Election Commission Kanwar Muhammad Dilshad said.
Buyers' agents have an incentive only to show their clients homes whose sellers offer them a standard 3% commission.
ECONOMIST: American property: The great realtor rip-off | The
Some believe that estate agents may be forced to introduce fixed fees for their services, rather than taking an average 1.5% commission.
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