Almost half of advisers think clients are overcharged

The research found the other half (53%) of the 139 advisers surveyed did not believe clients were overpaying, with many arguing many charging structures do not fully reflect the amount of behind-the-scenes work which goes into bespoke advice propositions. Among those who thought clients were being overcharged for advice services, on the other hand, the main concerns centred on high fees for initial and ongoing advice, excessively charging wealthier clients and charging for outsourced work. For NMBA managing director Tom Hegarty, the issue could well stem from the regulator because, he...