NEST charge proves folly of Basic Advice - Sesame

The IFA Network says it "doubts" Basic Advice - designed for consumers with straightforward financial needs - will appeal to members of the public, adding it finds it "ironic" the Government appears to have come to a similar view by setting NEST charges above the 1.5% cap on stakeholder products. Last week, the FSA announced it would retain Basic Advice for stakeholder products. It will fall outside the regulator's adviser charging rules but come with a caveat to describe it to clients as a ‘restricted' service. Members of NEST will be charged 0.3% of their funds each year as well as ...