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Tim Sargisson: Why a race to the bottom on advice charges spells danger

According to Next Wealth’s excellent Financial Advice Business Benchmarks report, published in October, the average cost of ongoing advice across the wider industry is now 63.7 basis points (bps) down 4.7bps compared to last year. ....

United Kingdom , Dan Murrell , Financial Services Compensation Scheme , Financial Conduct Authority , Consumer Duty , Next Wealth , Financial Advice Business Benchmarks , Money Marketing , Retail Distribution Review ,

Leader: 2022 - The year of the consolidator

The past year has flown by. Since I wrote my November 2021 cover story about consolidation in the IFA space, a lot has happened. Perhaps the most headline-grabbing deal of 2022 was Aviva’s purchase of Succession Wealth for £385m. Aviva’s thinking was obvious it wanted to boost its presence in the advice market. ....

United Arab Emirates , Hong Kong , United Kingdom , Ben Goss , Financial Conduct Authority Consumer Duty , Succession Wealth , Will Aviva , Abrdn Financial Planning , Financial Advice Business Benchmarks , Financial Planning , Dynamic Planner , Financial Conduct Authority , Consumer Duty , Altus Consulting ,

Tim Sargisson: Percentage charging firms are doomed for failure

I was surprised to see 81% of advisers continue to follow the percentage charging model. Surely, the drop in fund values means a consequent fall in income. And how many firms can afford that? ....

City Of , United Kingdom , Dan Murrell , Financial Conduct Authority Consumer Duty , Financial Advice Business Benchmarks , Financial Conduct Authority , Next Wealth ,

Tim Sargisson: Will consolidation lead to a better deal for the customer?

Consolidation is alive and well in the advice industry, but many are wondering how and when these deals feed through to the customer’s pocket ....

United Kingdom , Lois Vallely , Money Marketing , Financial Advice Business Benchmarks , United Kingdom Advice Gap ,

Discretionary managers struggle to gain market share

Big-name discretionary investment managers (DIMs) are struggling to gain market share among financial advisers, as they opt for smaller firms. ....

Heather Hopkins , Brewin Dolphin , Financial Advice Business Benchmarks , Personal Finance Society , Quilter Cheviot , Brooks Macdonald , Brooks Macdonald , Brewin Dolphin , Personal Finance Society , Lgt Vestra , Heather Hopkins , Managed Portfolio Service , Discretionary Fund Manager , Discretionary Fund Management ,