Advisers are being discouraged from charging separately for advising and arranging in a bid to avoid confusion over VAT, as it will lead to higher costs for consumers.
Legal & General (L&G) distribution director, Danny Wynn, says some fee-charging firms have already begun splitting their charges to ensure clients and HMRC are aware which parts of the service are liable...
Annuity market worth £4bn in 2017
For ‘distress’ caused
Oversees £30bn of advised and D2C assets
Less than a third of top paid employees are women
£1bn business since inception