Many financial advisers are still swerving questions about fees one year after the implementation of the Retail Distribution Review (RDR), according to an investigation by consumer group Which?
The group's research found that more than half of the advisers questioned refrained from revealing how much they charge until customers meet with them in person. The vast majority investigated also did not mention prices on their websites, said Which?. Posing as potential clients, Which? called 30 IFAs asking how much it would cost for advice on investing a £60,000 inheritance, but only 14 of them could be pressed to reveal their fees over the phone. The consumer group said: "Many advisers told our researchers that their charging system was much easier to explain face-to-face, whil...
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