Call to end 'pandering to the wealthy' one-size fits all adviser charging

Carmen Reichman
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Single out what clients actually want and only charge for that, rather than 'pandering to the wealthy' with expensive packaged bank account-style add-ons, an advice firm has said, as it launched its 'manifesto' for the coming years.

Simplified advice firm Wealth Horizon suggested advisers should not work to set fees but adapt their costs according to the service they provide. Offering advice "in the same way as packaged bank accounts" risks shutting out those with lower budgets who are charged "for everything rather than what is required", CEO Chris Williams (pictured) said. His call featured in Wealth Horizon's five point manifesto outlining where it wants to see changes in financial advice ahead of the 7 May General Election. The firm offers online and phone-based simplified advice for investors with assets ...

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