Any science geeks among you may be familiar with a principle* which goes something like this: it is unremarkable that the universe has the apparently-odd properties it does because we would not be here to witness them and remark that they are odd if they were different.
Likewise (sort of), we know fee-based charging models work because, if they didn't, fee-based advisers would not exist. And lots do. But we also know of a large number of commission-based advisers who say, wholeheartedly, that a fee model will not be accepted by their clients. What is going on? Surely the advice-seeking public either will accept paying fees, or they will not. Are advisers failing to communicate the difference between commission and fees? Do some clients find it hard to accept advice as the product? Is it true that only the well-off will pay a fee for investment adv...
To continue reading this article...
Join Professional Adviser for free
- 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