Bank advisers will struggle in fee-charging world - study

A survey of more than 2,000 people for consultancy Deloitte by YouGov found that 60% of bank customers would reject paying a fee for advice compared with 12% of independent advisers' clients. However, more than half of those asked (54%) would refuse financial advice entirely if charged a fee, according to the survey. Deloitte did not disclose the questions it asked the participants. Under rules to be implemented on 1 January next year, financial advisers are no longer permitted to receive commission from product providers for selling their products. Instead, they must agree a fe...