Financial Advisers to Strike

More than 2,000 financial advisers at the Co-op Insurance Society (CIS) will walk out for 48 hours next week over attempts to introduce a new bonus scheme. Their union, Usdaw, argues that new contracts could cut members' wages by 20-30 per cent and is threatening at least two further stoppages. The advisers, who are paid an average £37,000 but can earn up to £80,000 a year, argue that the new regime will make them "hard-nosed salesmen" rather than "collectors, administrators and advisers" and could mean they will be out of a job.
[The Independent page 67 - 23.9.05]