UCIS advisers told to charge more post-RDR

Bray, who heads up the client team at the support services provider, warned delegates at the Personal Finance Society conference last week not to try to cut corners when advising on UCIS, particularly by relying on third parties for due diligence. The payoff for the extra work created by advising on the sophisticated products compliantly should be in the form of a higher charge, he said. "You can charge very good fees. I'd expect you to be charging a premium to advise on a UCIS scheme. It is a highly complex and specialist area." Many advisers will choose not to advise on the area,...