NU Online News Service, Dec. 3, 2004, 6:02 p.m. EST
A rapidly growing financial services distributor says only a small part of its group benefits revenue comes from contingent commissions.[@@]
A team of analysts at UBS Securities L.L.C. talks about that finding in a report on an investor meeting with executives at Nationwide Financial Partners Corp., New York.
NFP has been building a national financial services distribution network by acquiring existing insurance agencies, benefits brokers and other financial services firms.
Preliminary results of an NFP review suggest that contingent commissions amount to only 5% to 8% of NFP group benefits base commissions, according to the analyst team, which is led by Andrew Kligerman.