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How can you put a price on fluffy people skills?

It will be difficult for advisers to marry up the “intangible benefits” that an IFA provides with the reality of having to ask for an advice fee, says Taxbriefs editorial director Danby Bloch.

Speaking at a Money Marketing round table on adviser-charging last week, Bloch argued it is difficult for advisers to put a price on their people skills.

He said: “It is very hard to deliver a fluffy, lovely advice service which has got all sorts of intangible benefits to it and then say there is a hard fee that a client has to pay.”

Ernst & Young director of financial services Malcolm Kerr said: “It is difficult to put this in a glossy brochure but there is more to being an IFA than the left-brained technical stuff. Clients value reassurance about not just their finances but also their retirement and their fears and aspirations.”

But Tax Incentivised Savings Association director of policy Malcolm Small said: “The future of advice is around two things – investment management and taxation. Advisers’ value should be judged on whether the investment return has beaten the benchmark, not all this fuzzy stuff.”


Counting the cost

There was some interesting debate developing in the readers’ comments foll-owing on from the article headlined, Pru calls for rivals to go further on critical cover, in the May 26 edition of Money Marketing. In our opinion, these comments missed one crucial point, this being that PruProtect’s critical-illness offering is not more costeffective because Pru […]

Golf winner

Worldwide Financial Planning IFA Darren McKeever has won Money Marketing’s competition for a free place on a qualifying round of the Uolo IFA Golf Tour 2011. If he is a top 12 qualifier, he will win a four day all-expenses paid trip to play in the final at the Aphrodite Hills Resort in Cyprus.

Annuity Income Data

The Retirement Strategy data pages are designed to offer a wide ranging view of the current annuity rates being offered from providers including impaired, flexible and asset-backed annuity options. The pages also put current rates into historical context, offer the latest annuity best-buy tables and give a general overview of the type of products each […]


Taxbriefs: Sharp rise in cost of advice

The cost of advice will increase as IFAs move to adviser-charging models, says Taxbriefs editorial director Danby Bloch. He said: “The cost of advice will go up quite a lot in net terms. Fees will be received in exchange for advice and the client will pay them out of net income. If you combine the […]


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