Clients still think advice is free, say IFAs

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Advisers believe the factor most likely to deter consumers from paying fees after 2012 is that they previously believed the advice element was free, according to Aviva.

The provider's latest 'Hot Issues Tracker', which surveyed 266 advisers, found 64% of respondents say this will be the main reason for an anticipated drop in business volumes from 1 January 2013.   Almost six in ten (58%) believe customers will see advice as too expensive, while 55% believe prospective clients will struggle to see the value for money provided by their adviser. The report also suggests 38% of advisers expect a wealthier client base post-RDR, with 22% believing they will be older. Meanwhile, when asked what clients most value from their adviser, respondents said p...

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