Only a third of consumers would be willing to pay anything for an hour of professional advice, according to a new survey by KPMG.
Even more worryingly for advisers switching to a fee-based model post RDR, the research found of those consumers willing to pay, around half would not consider a sum over £50. Setting out the challenges faced by advisers post-RDR, the report reveals a meagre 1% would be ready to pay £200, while only 22% would pay for an in-depth annual review of their finances. However, despite the fee issue potentially driving consumers and advisers apart, the report also establishes 50% would trust IFAs the most for financial advice, significantly more than banks or insurance companies. Fiona Fry...
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