Advisory firms have less than two years to transition to an adviser charging remuneration model. But some have already made the move...
Martin Bamford, managing director, Informed Choice "We made the move from commission to adviser charging in 2004 as a result of a growing sense of frustration within the business. This frustration came from our old pricing model where we only got paid if the client purchased a commission-paying product. With so much of the ‘value’ we were providing being received by our clients regardless of whether a product was purchased, it seemed a bizarre way of structuring our remuneration. "We made the move by pricing our services at three specific points in the process – advice, implementation ...
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