Cofunds: Less than 10% of clients currently fee-based

Verona Smith, head of proposition at the company, said there were around 400,000 advised clients on the platform, of whom only 37,000 were currently associated with a fee model. She told a panel discussion at the Chartered Institute of Securities and Investment yesterday: "That's a lot of clients that, between now and RDR implementation, need to be contacted and moved to a fee model. "Advisers have to speak to every one of those clients to get them to agree to any move. So it's going to be one of the hardest parts of RDR implementation." To help advisers with the transition from co...