Consumers could pay advisers monthly fee - AIFA

AIFA director general Chris Cummings says a flat monthly charge would appeal to both advisers - who are looking to boost their regular income - and clients, who would effectively get an "adviser for life". A monthly fee could be low enough so as not to deter consumers but high enough to ensure a profitable business margin. Regular payment would also encourage frequent contact between adviser and client. "All of a sudden the client is not paying to buy a product, but to retain the services of an adviser for the rest of their life," Cummings says. "Plus, ask any successful business and ...