Advisers need to budget profits as an essential ‘cost', on a par with rent and staff wages, or risk going out of business, warns the head of financial planning at Macquarie Bank UK.
John Baxter, who runs the multi-national’s division to transition IFA firms for the RDR, says a profit margin of less than 30% is “inadequate”, and less than 20% is “dangerous”. But he calculates more...
Joe McDonnell joins as head of portfolio solutions (EMEA)
Fidelity Multi Asset CIO's outlook
Willis Owen report
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