PA360: Gillian Hepburn on the ongoing vs fixed fees debate

'Advisers may need to have a re-think and explain things'

Isabel Baxter
clock • 2 min read

A fixed fee structure presents the idea that the client knows that they need to receive advice, delegates heard.

Speaking at PA360, Benchmark Capital commercial director Gillian Hepburn explained what advice businesses are doing differently in 2024 in a post-Consumer Duty world.  "There were times where we were not putting ourselves in our clients shoes," she noted.  "There has been a significant swing post implementation from advisers that Consumer Duty has had an impact on their business."  Hepburn reflected on what the Financial Conduct Authority (FCA) will start to do this year which includes: multi-firm work and market studies; test the transparency of charges; and review fir...

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