Independence follows fee switch

The main reason for advisers to make the transition from commission to fees is not simply to add value to their business but to make them more independent, according to director of Baxter Fensham, John Baxter. According to Baxter, the argument is not about commission versus fees but the service the adviser is providing. If the service is financial planning rather than simple product advice, then the change to fees is a natural progression, he says. 'Providing advice is like a shopping trip. It is like putting goods/products in a trolley until you've forgotten what you intended to buy,'...