Consumers will 'shop around' for lowest adviser charge

According to an NMG poll of 324 investors who have used an IFA, 67% will compare charges before selecting an adviser. Meanwhile, 69% agree the adviser charge will improve their understanding of the cost of advice, although 37% say they may choose to purchase their investments without seeking guidance. From 1 January 2013, adviser firms can only be paid through charges it has set out and agreed upfront with their clients, rather than via commissions set by product providers. The FSA has made clear it is up to firms how they charge for their services, whether via fixed fee, hourly ra...