Charging

About two out of three financial advice clients receive ongoing services but only half understand what they are actually paying for, research from NMG has found.

Financial advice should be grouped by type of service and given price tags to break down the barriers consumers often face when shopping for it, Unbiased chief executive Karen Barrett has suggested.

The festive period is predictably slow for advised business, but research suggests the drop in income can be significant.

'Unbelievable, flawed, ludicrous': Clive Waller savages Vanguard research on value of advice

Hourly rates charged by advisers have fallen by 14% over the last year, research by adviser search website Unbiased suggests, putting rates in line with those charged before the Retail Distribution Review (RDR).

HSBC is to review historical pension transfer cases to see if it is earning trail income for ongoing advice it is not delivering.

Banking giant HSBC has been told to return the trail commission it took from a retiree for ongoing pensions advice it never delivered.

Old Mutual Wealth is removing the annual pension drawdown fee and scrapping the current minimum charge on its platform in order to simplify its charging structure.

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