Nine out of 10 IFAs believe fee-based remuneration is either essential or important in order for their business to succeed in the future, says Winterthur Life.
Questioning 500 advisers in May and June this year, Winterthur Life says 52% of them believe offering fee-based advise is “essential” if they wish to succeed with their business.
Some 40% also say they deem it as “important”, taking the numbers of IFAs suporting fees up to 92%.
These findings were up 19% compared with previous surveys conducted by the product provider.
Looking towards the future, 96% of IFAs seem positive, deeming their business prospects would either "improve" or remain "unchanged" post-depolarisation.
A majority (86%) say they expect to continue working as IFAs instead of going tied or multi-tied.
Winterthur Life's survey also suggests 98% of advisers believe their business prospects would improve or remain unchanged following the introduction of the FSA's 'menu system'.
That said, the Association of IFAs recently slashed the regulator's latest menu proposal, deeming it too complex and cluttered.
Paul Smee, director general of AIFA, says: “We remain convinced that the menu is the best way of providing transparency by setting the cost of advice squarely within its context.
"The FSA’s proposed version of the menu is, however, overly complex and there is a danger that it will not be read by consumers. This in turn will not meet the regulator’s objective of encouraging consumers to shop around.
"The menu has become too cluttered and, in the process, could lose its key message. There is a disproportionate focus on cost, whilst if it is to work effectively, the menu should also demonstrate value," he adds.IFAonline
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