Advisers are "significantly undervaluing" the work they do for clients when working out their charging structures post-RDR, according to Prudential.
Head of business consultancy Paul Harrison said "extra services" like trust work, tax planning and providing a second opinion were often not adequately charged for. "From our experience, far too many advisers significantly undervalue the work they do for clients and, in many cases, this work is completed either free of charge or without sufficient payment in return for their professional services," he said. When the commission stream disappears in 2013, many firms will struggle to operate if they fail to adopt a broader commercial approach, he added. Research released by CoreData l...
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