The document summarizes the agenda and objectives of an upcoming workplace forum meeting between distributors and product providers. The forum will discuss streamlining premium collection processing, challenges with group risk and healthcare products, preparing for the Retail Distribution Review changes, and procedures for dealing with commission clawbacks. The agenda outlines presentations and discussions on these topics, with the objective of agreeing on actions to address issues and improve processes.

1. Workplace Forum
Agenda Attendees and Objectives
Meeting held to be held on 7th April 2011 at
The Chartered Institute of Arbitrators (CIArb), 12 Bloomsbury Square, London, WC1A 2LP
The contents of this pack, in whole or in part, are to be treated as confidential and circulation beyond the Forum members or subscribers requires written confirmation from F&TRC
in advance. Any unauthorised distribution renders the distributor liable for the subscription cost of the document distributed for each third party they are passed on to.

2. Competition Act reminder
• The role of this Forum is to facilitate business efficiencies in the personal finance sector for the benefit
of distributors, providers and most importantly consumers.
• All present are reminded of the requirements of the Competition Act and members’ attention is drawn
to the guidelines, which are available.
• In essence, all Members shall refrain from any conduct or participation in any activities which could
lead to a restriction of competition between the Members or any third party who is a competitor of a
Member or Product Provider or which could in any other way lead to an infringement of UK and/or EC
rules on competition law.
• Output of the meeting must be complete, we will pause before each new section to agree and
summarise the issues covered.
• Role of the chairman is to steer the group clear of conversations that may impinge on the act.
• If the chairman fails to do this, delegates should point this out in the meeting and if the situation does
not change should leave the meeting.
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 2

3. Workplace Forum
Agenda Timings Page no.
• Introductions and agenda 10.30am 2–3
• Attendees and apologies 4
• Objectives and actions 10.35am 5-6
• Workplace Forum – brief overview of activity and issues being investigated 10.40am 7
• STP for premium collection processing:
• Review outcome of teleconference calls between distributors and providers – what did firms agree to do and what needs to happen 10.50am 8 - 21
next?
• Group risk and healthcare:
• What are the key issues and challenges distributors face when dealing with group risk and healthcare providers? 11.15am 22
• Which processes are most in need of improvement and why?
Coffee break 11.45am
• RDR and adviser remuneration:
• Which issues would adviser firms like to start investigating with providers now so that firms are ready to support adviser charging
once commission is no longer available as a remuneration option?
12.00pm 23 - 24
• How do advisers see fee charging working e.g. what sort of adviser charging models might emerge and could providers support
these?
• What would providers like to understand from advisers about how adviser charging might work?
• E-commissions:
• What procedures/processes influence how a product provider deals with claw backs?
12.45pm 25
• From an adviser viewpoint how would they like claw back payments to be dealt with?
• Why do product providers miss-label commission payments and what can they do to ensure commission types are accurately labelled?
• AOB: F&TRC Workplace White Paper 1.15pm 26
Meeting ends / Lunch 1.25pm
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 3

4. Attendees
Distributors (Corporate IFA’s, Employee Benefit Consultants and Benefit Portals)
Bluefin Group Johnson Fleming
Master Adviser JLT
Sesame Bankhall JLT
Origen JLT
Redbourne Clairville York
Product Providers
AEGON HSBC
Aviva Friends Life
Aviva Royal London Group/Scottish Life
Ellipse Royal London Group/Scottish Life
Scottish Widows NEST
F&TRC
Poppy Achilles, Ian McKenna & Helen Clark
Apologies
Portus Online Staffcare Standard Life
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 4

5. Objectives
Objectives
• Agree resource and timeline for STP premium collection initiative.
• Host initial discussion on topic of consultancy charging.
• Distributors who operate in the group risk market to share their views on key operational issues
affecting this type of business.
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 5

6. Actions
Date of
No. Task Resource name Deadline Comments
meeting
Product providers at the meeting to confirm if they would be
AEGON,Friends
19/01/2011 001 supportive of an initiative that would investigate the business 11/02/2011 Complete.
Provident,Aviva
requirements for STP and what a business case might look like.
F&TRC to contact all firms that were an apology to establish if they
19/01/2011 002 would be supportive of an initiative to investigate the business F&TRC 11/02/2011 Complete.
requirements for STP and what a business case might look like.
F&TRC to facilitate a teleconference call with parties to take forward This action is
19/01/2011 003 an initiative to define business requirements for STP and what a F&TRC dependant upon Complete.
business case might look like. 001 and 002
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 6

7. Issues being addressed by Workplace Forum
• Since October 2010, Workplace Forum has been discussing a range of different operational issues identified by the distributors that
engage in this group.
• Below we have provided a brief update on the issues the group has been engaged in and the progress that has been made:
Need to improve the accuracy of January 2013 will see an end to advisers
quotes received from providers as they Need access to real time
receiving commission for placing group pensions Need better quality data,
can often be incorrect. Not prioritised alerts to track progress of
business. There is a need to look at how delivered in a consistent
to take forward. group risk cases. Not
consultancy charging will operate i.e. How do format and a more timely
prioritised to take
advisers expect this to work and what will delivery. Not prioritised to take
forward.
providers be expected to support? forward.
No issues identified.
Valuations
Scheme set Contribution E- Consultancy
Quotes Tracking and client MI
up collection commissions charging
reporting
New business issues Scheme servicing issues
Key focus area for the group and an initiative has been set up to No issues
document distributor business requirements to support an STP Provider processes for dealing with claw identified.
process. Findings can be used by providers to also support STP back identified as an issue and there is a
development for employers they deal with directly. need to understand what friction this
causes advisers and providers.
Work complete Work underway New issues for discussion No issues identified or not prioritised
to take forward.
Adviser Forum is managed and facilitated by F&TRC.
Workplace Forum Presentation – April 2011 ©FTRC 2011 Not to be reproduced without written permission 7