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

New Welsh firm offers flat-fee model

clock • 3 min read

Advisers critical of Bancroft Wealth’s widely publicised flat-fee model have questioned how comprehensive a service it can offer.

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...

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