Advisers debate client fee cuts as economy worsens

One high-profile IFA firm has slashed its initial advice fee for new clients by 20% in response to the dramatic slowdown in the UK economy. Surrey-based Informed Choice says it reduced its fee from November after recognising the potential impact the economic turmoil could have on new clients seeking financial advice. The firm has also offered the choice of paying the initial fee in 12 monthly installments. "It is not going to affect our bottom line at all, we just think it is a sensible move at the moment," Informed Choice joint managing director Martin Bamford says. "We have to be cons...