IFA comment: Fee-based advisers already use a menu

clock

Most discussion about the "menu" has so far arisen from commission-based advisers, who will now have to reassess their working practices.

However, Chris Welsford, a fee-based adviser at Ayres Punchard, explains being a fee-based adviser is not as bad as intermediaries make out, as life can much more relaxed once the switch is made. As a fee-based adviser I already provide my clients with a "menu" on outset. All advice is provided on either an hourly rate or a set fee agreed before any work commences. This has tended to exclude less well off clients but that has largely been a result of my personal preference for HNW clients who suit my style and expertise and help keep office overheads to a minimum. I used to use a c...

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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Advisers urged to prioritise mindset over products in retirement planning

Advisers urged to prioritise mindset over products in retirement planning

Defaqto conference panellists urge shift to service-led, goal-driven strategies

Sahar Nazir
clock 02 May 2025 • 1 min read
PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

PA360: 'Clients crave certainty, not solutions' – advisers urged to listen harder

‘Are you really listening to your clients?’

Sahar Nazir
clock 02 May 2025 • 2 min read
PA Asks: Should the cash ISA limit be cut?

PA Asks: Should the cash ISA limit be cut?

Plus, which business leader inspires you, redundancy cover and NFTs

Professional Adviser
clock 02 May 2025 • 1 min read