Charging fees at 'implementation' - or where a product is purchased - is a legacy of the distribution system and should be ditched, a financial services expert has said.
Tenet has developed an online anti-money laundering service to combat fraud, eliminate paperwork and enable advisers to process transactions more efficiently.
Campbell Harrison managing director Alex Campbell wonders why, if clients are turned off by the prospect of hourly charging, advisers would consider charging for initial consultations...
Roger Brosch, chief executive of Foster Denovo, says advisers must change their mindset.
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