Time for IFAs to change thinking on client value

The problem, however, is that the adviser often doesn’t realise the extent of the value he/she provides to the client and is therefore unable to equate this with the cost of advice. A good example of this would be a firm that I have been working with in the North-West of England. This one-adviser practice has a history of dealing with many wealthy clients and charging in an ad hoc fashion: the most memorable occasion being when advising a landowner on a business deal, which netted the client a profit of over one million pounds, the adviser decided to charge nothing at all! After I had...