Positive Solutions warns of charging model timescale

Advisers are facing a barrage of new rules, including the need to make changes to the way clients pay for advice by 2012. Positive Solutions' chief executive, Jim Reeve, says he knows from experience it can take up to five years for an IFA firm to change its charging model. "It can't be rushed and requires effective and regular dialogue with clients so that they understand and support the change," he says. Positive Solutions has called on the FSA to commit to rolling out a nationwide ‘hearts and minds' awareness campaign outlining how consumers will benefit from the proposed shake-...