Singapore IFAs shifting from commission model

Commissions still account for the bulk of revenues for independent financial advisers (IFAs) in Asia, but that is changing in Singapore if not in Hong Kong, according to new research. Initial commission from investment products accounts for 46% and fees 17% of revenue for IFAs in the Lion City. That compares to 58% and 3%, respectively, in Hong Kong, finds Singapore-based NMG Consulting. A much greater proportion of Singapore IFAs have migrated to fee-based models than in Hong K…