No magic formula for fees: IFA
The IFA has issued a statement outlining its views on adviser fees, which the institute’s president Nigel Tate said was in response to an online debate on an adviser blog that had “got out of hand”.
In its statement the institute said there had been many academics and practitioners attempting to answer the question of how advisers put a price on what they do for their clients.
“It has been debated nationally and internationally and while there are no surprises to those involved in the financial advice profession, the marketplace has not come up with the ideal measure,” the statement said.
“IFA maintains the view that valuing the services provided to any client is ultimately based upon the value the client feels appropriate for them. This includes the work done by the adviser and whatever else is agreed between the client and their adviser,” the IFA statement said.
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