Moving to Adviser Charging – All a bit of a mess


(Previously) Bundled Platforms

At one stage I thought the migration to Adviser Charging might actually be alright on the night.

Having digested the FSA policy statements, I had a pretty clear view of the world to come. It was all pretty easy really. At the next ‘advice event’ with each client, the adviser would explain his post-RDR menu of services and agree (or reconfirm) the level of service and associated cost; the client would instruct accordingly and the adviser would either invoice the client for ‘adviser charges’ or take their instruction for a product provider to ‘facilitate’ the payment of adviser charges. Easy.

Herding Cats


Just how do you get a few hundred self-employed IFAs to do the same thing? This is the conundrum facing the traditional national IFA model in which advisers have been given, over the years, freedom to express themselves in choosing investment vehicles. And it’s a big one.