Consumers prefer fixed fees to percentage based charging, despite advisers' preference for the latter, research by Drewberry has found.
Half of respondents to a survey by the firm said they would prefer fixed prices for ‘standard' pieces of work, such as setting up a pension. A mere 6% of the public liked the idea of a percentage of assets-based arrangement to calculate their adviser's fees, even though this has become the prevailing model for many financial advisers in recent years. Earlier this month a survey by Adviser Home found three-fifths (60%) of advisers charged on the basis of assets under advice, a fifth (21%) had fixed...
The Financial Ombudsman Service (FOS) will maintain its current funding model for the next financial year despite recognising it is unsustainable in its current form.
The FCA has confirmed that, while businesses will have to identify certified staff from day one under the Senior Managers & Certification Regime (SM&CR), they will have a year to complete fitness and propriety assessments.
Scott Cadger runs through the four most common reasons people give for not taking out critical illness cover - and some suggestions on how advisers can offer reassurance on each in conversations with clients
The Financial Ombudsman Service (FOS) has sought to provide clarity regarding any potential confusion over the products advisers should recommend to clients to cover a decreasing loan or mortgage.