Percentage-based charging is a "broken model" and should be replaced by flat fees, which are "more appropriate" and better suited to new forms of advice such as automated services, advisers have said.
Charging based on assets was becoming increasingly difficult to justify in today's changing industry, when consumers are demanding more transparency on products and services, the advisers said. The...
Self-administered pensions reported net investment £4.7bn in Q2
Was responsible for IT and transformation
There are 1,840 asset management firms with £8trn AUM
Also unveils trust IPO raised £100m
Paul Bruns and Elaine Parkes