The day the FSA told a client: Your IFA is charging too much

According to one IFA (or rather his ex-client), it already does precisely that – it just takes a phone call to its Customer Contact Centre. His story goes like this: Three months ago prospective client, seeking to set up a regular premium pension to which she will contribute £1,000 a month, has plans to retire with a certain amount on a specified date. She would like him to help her make it happen. Our adviser meanwhile, aware of the customer’s stated cautious attitude to risk, spends a minimum of eight hours researching and putting together a report that will outline how she may be a...