Over a third (38%) of directly authorised advisers are concerned about having to increase their prices because of the upcoming Consumer Duty regulation, compared to 22% of those who are part of a network.
Nearly a third (32%) of financial advisers are anticipating their customer fees will rise, while over half (55%) of advisers expect their fees to remain the same, according to Quilter research gathered by Boring Money. Just 9% expect the cost of fees to drop in the face of Consumer Duty. The research also found that nearly half (44%) of advisers may feel forced to increase customer fees to maintain profitability, while only 5% expect profitability to increase as a result of the regulation. Quilter commercial proposition director Jenny Davidson said: "The implementation of the Consu...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
