Which? condemns 'huge variations' in IFA fees

The consumer body, which campaigned for the Retail Distribution Review (RDR), said in one case an IFA charged £2,450 more than the cheapest quote for the same service. According to the latest Which? report, an IFA in Scotland quoted £50 to transfer £5,000 into a stakeholder pension, whereas another IFA in the South East quoted £2,500 for the same job. The average fee quoted to transfer a £10,680 investment into a stocks and shares ISA was £356, but one South East adviser quoted £2,500 whilst two others from the South West and the East of Englad quoted £106. The disparity was simila...