Brokers warned on debt advice fees

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Guardian Debt Management has warned brokers to avoid unscrupulous debt advice firms charging large up-front fees.

The company claims these firms, which also frequently offer high referral fees, risk damaging future client relations for the intermediary. The debt solution specialist says intermediaries should embrace the benefits of debt advice to help clients with financial concerns, but they should not form allegiances with firms charging large up-front fees which could result in additional problems for clients further down the line. It says fee structure transparency should be the key element when referring clients to such firms. David McCann, managing director at Guardian Debt Management, says t...

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