Nick Blake, head of retail at Vanguard, offers his tips to those advisers yet to discuss their new charging model with a portion of their client base.
Advisers that have managed the transition to fee-based advice successfully have spent as much time with their clients as they have working out their charging structure. If you still have clients on your books who are yet to learn of your new charging model, you will need a solid communication to win them over. Here are some tips to bear in mind: Transparency and alignment Clients may find your fee model easier to accept if they understand the full implications. We all know that clients never received ‘free’ advice; in the past, the costs were just not transparent. You now have th...
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