Fee-based advice growing

The Clerical Medical Financial Services study adds to a growing body of evidence that points to a paradigm shift in advisers’ business models. According to the survey, 38pc of advisers expect more than a quarter of their business to be fee-based in three years. Currently only 19pc of advisers carry out this level of fee transactions, according to the study. A drop in income from initial commission also appears likely, the research showed. In three years time, 45pc of advisers expect more than half of their revenue to come from upfront payments, while the figure is 72pc today. As initia...