Advisers question viability of Bancroft's £500 per year advice fee model

The South Wales-based firm announced it would charge its clients £500 a year for financial advice regardless of the size of their portfolio, rather than charging on a percentage of assets, a story that the made national newspapers over the weekend. Bancroft Wealth founder Clive Russell, an IFA of 27 years, argued the model provided greater value for clients.    "The percentage-based fees charged by large, established wealth management firms come with guarantees of exponential growth, but only for the firms themselves," he said. "It's been well-documented how these opaque fee structure...