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&#39Over 50% of advisers looking to charge fees&#39

More than half of IFAs want to move towards charging clients fees, according to a survey by financial consul-tancy Lawshare.

The report says, given the changes in the marketplace, with margins increasingly threatened by the introduction of kitemarked products such as stakeholder, IFAs will need to look at fee-based services as a means of providing a substantial part of their income.

Lawshare says the easiest way for an IFA to move towards charging fees is to create an investment management service for their clients.

Fifty-six per cent of those questioned say they already provide some type of investment management service. Many IFAs say they are unsure about how to proceed in setting up such a service.

The survey found nearly one-third of IFAs believe the greatest threat to their business is over-regulation. Thirteen per cent say the internet and e-commerce is a threat while only 5 per cent say multi-ties is a cause for concern.

The survey was geared specifically towards IFAs who have shown tendencies to engage in investment management and the bigger firms operating in the UK.

A total of 1,299 IFAs were surveyed during the first quarter of the year.

Lawshare managing director Anthony Greayer says: “What struck me is the substantial number of firms that want to move in that direction. The vast majority say they are already charging fees or they are thinking about doing it in the near future.”

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