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Clients opting for remuneration mix

The survey by the Essex firm is based on questionnaires from 210 clients and shows an overwhelming bias towards a combination of fees and commission, with 72.5 per cent saying it is their favoured option of remuneration.

Only 4.5 per cent prefer a fee-only option while 23 per cent prefer commission only.

Forty-nine per cent say they would not be tempted to use a financial services website and 36 per cent say they would only consider it on the recommendation of their IFA.

Seventeen per cent would take the IFA’s recommendations, with 6 per cent for an accountant, 7 per cent for an estate agent and 3 per cent for a book-keeper. This data has prompted the firm to create local prof-essional business ties to accommodate the needs of clients, a subject Aifa has been keen to promote.

All of the respondents said that independent advice best met their financial needs.

CBK principal Peter Chadborn says: “This is very positive as it means that clients are as not as averse to fees as we thought.

“The financial services website and remuneration responses confirm our belief that if you genuinely provide a specialist service then customers will be loyal and be prepared to pay fees.”

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