Average ongoing advice fees rise by 9bps

The report found that the average ongoing advice fee is up 9 bps from 2023, with a growing share of advisers charging between 91 and 100 bps for ongoing advice. It also found asset-based fee structures are used by 70% of financial advisers, with fixed fees second most common, used by 29%. One-third of clients included in NextWealth's report said their fees increased last year and one-quarter of those said the increase was not justified. Just over one-third of clients have seen their advice fees increase in the past twelve months. A quarter (26%) of consumers who said their fees inc...