IFA comment: Fee-based advisers and the "menu"

clock

Another IFA comment - following publication of the depolarisation menu - suggests some intermediaries welcome the move to introduce documents revealing the earnings from advice.

I use both a commission route and a fee-based route and give my clients a choice of one or the other or a mix. I have done this for nearly three years and I have a fee schedule. It quotes an hourly rate, but, as in the article, I quote a fixed rate for a report depending a bit on how long it will take to write but on what I think the client will pay. This latter option is just how my father, a dentist, used to calculate his private dental fees in the 60s, 70s and 80s before he retired. Then I will charge a fee for implementing any recommendations which the client wishes to take up. In o...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Hitting milestones later in life could impact when people seek advice

Hitting milestones later in life could impact when people seek advice

People will likely be seeking financial advice later

Laura Suter
clock 19 April 2024 • 3 min read
Regulatory pressures taking a toll on industry stress levels

Regulatory pressures taking a toll on industry stress levels

'Regulatory pressures are the first thing on my mind’

Sahar Nazir
clock 19 April 2024 • 1 min read
Advisers blast FCA funding requirement of £755m 'inexorable'

Advisers blast FCA funding requirement of £755m 'inexorable'

‘I don’t really know what value I’m getting from the FCA – if any’

Hope Coumbe
clock 19 April 2024 • 2 min read