In this episode of the AdviserHangout Podcast, we look at one of the most important issues in the way advisers manage their business and in the way we work with clients – Fees.
First, we look at the latest research commissioned by the FCA to look at what clients think of how advisers disclose their fees and the documents used in doing this.
Then I speak to consultant Brett Davison of FP Advance on how to price your value as a financial planner.
Brett talked extensively about how advisers can demonstrate the value-add to clients. ‘If an adviser shows me how I can maintain my lifestyle without running out of money, I swear to you, I’ll pay you whatever you want’ he says.
He also talked about the different charging structures, the mistakes that advisers make when it comes to charging and how to avoid these.