Advisers expect the ongoing advice charge to increase

Its annual 2024 IFA DNA report conducted by NextWealth found that 39% expect the ongoing advice charge to increase over the next three years. Meanwhile, 83% have made or are planning changes to their fee and charging structures. The report stated that Consumer Duty has required firms to "comprehensively" review policies and procedures across most aspects of the business. When asked about actual changes made to various processes and structures, most firms confirmed these had been made, were in the process of being made or were planned for the future. Most progress has been made...