Editor's View: Far more firms need to be looking at how they charge

The editor's Friday Night Takeaway from 13 October

Hope William-Smith
clock • 1 min read

A new report from NextWealth this week found almost a fifth of advisers are planning to make changes to their fee structures over the next year.

When I first read our story on this I was pleased. Then, after more reflection, I questioned whether it was only 17% that needed to make changes in order to better align with Consumer Duty expectations around price and value. My gut tells me more firms will need to make changes, and time will tell whether the regulator's focus in this area will be directed at small or large firms. My theory is that each component of the regulation is actually aimed at a specific subset, be it small firms, directly authorised advisers, networks or whatever else. Elsewhere, complaints to the Financial Serv...

To continue reading this article...

Join Professional Adviser

  • 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.

Join

 

Already a Professional Adviser member?

Login

More on Adviser tips

Deputy Editor's View: Closing the advice gap for good

Deputy Editor's View: Closing the advice gap for good

The deputy editor's Friday Night Takeaway from 8 December

Jenna Brown
clock 08 December 2023 • 2 min read
Editor's View: Round yon platform, pricing that's mild

Editor's View: Round yon platform, pricing that's mild

The editor's Friday Night Takeaway from 1 December

Hope Coumbe
clock 01 December 2023 • 1 min read
Editor's View: A busy Autumn Statement week for the pensions world

Editor's View: A busy Autumn Statement week for the pensions world

The editor's Friday Night Takeaway from 24 November

Hope Coumbe
clock 24 November 2023 • 1 min read