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79% of Wig firms say trail does not cover cost

Women&#39s IFA Group research shows that 79 per cent of member advisers feel trail commission does not cover the cost of serving existing clients.

The data shows 93 per cent of Wig respondents have never received negative feedback from a client concerning ren-ewal or trail commission and 91 per cent believe their clients would not prefer a one-off up-front fee with no trail instead of current arrangements.

The research, which looks at issues raised in a recent Treasury select committee meeting which condemned trail, found that 77 per cent took up a quarter of their working day servicing existing clients.

Three-quarters of respondents opt for less up-front commission combined with trail, with reasons cited as having a demonstrable stake in the fut-ure performance of a client&#39s funds and building a revenue stream for the business Wig chairwoman Fiona Price says: “Some advisers may give little or nothing in return for renewal but our members ref-lect the many IFAs who conscientiously provide an excellent service for their clients.”

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