Honister Capital, the private investment company which owns two networks and a national IFA, is to roll out a new charging proposition for firms.
Currently, firms are charged solely on a straight percentage of income, but the business will move to a hybrid model of fixed and variable fees, which it said would be "fairer and more transparent". Fixed charges will include FSA fees, professional indemnity insurance (PII) cover and a levy for core services, such as compliance support. The variable element will reflect the income generated by the adviser firm and any additional services used. Honister said the change would be implemented in two stages. The first stage, which will take effect from November, will address some of the...
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