IFAs warned of consumer aversion to hourly rate charging

With the commission ban coming into effect at the end of the year as a result of the Retail Distribution Review (RDR), hourly rates are among the options open to advisers implementing adviser charging, if they have not already done so. A survey commissioned by Legal & General Investments (LGIM) found 64% of investors questioned said they would stop using their IFA if they began charging under this method. Conducted online by YouGov, its also found just 19% of the investors said they would continue to let their adviser recommend investments after the implementation of the RDR, while 41...