What an interesting if confusing piece was Antony Williams’ My Beautiful Wrap column of February 8. He says his “very wealthy clients” would not pay the initial charge to Transact.
Presumably, on their paths to becoming very wealthy, they will have invested money in some kind of financial instruments. One can only assume that Mr Williams has successfully negotiated to have no initial charges in any pre-wrap investment activity he undertook on behalf of these very wealthy clients.
The real purpose of a wrap or platform is to allow a value-added service proposition to be delivered to clients. Surely, very wealthy clients would want to determine any value to be gained from the service proposition before looking at the cost element? IFAs have to express our activities in added value to allow clients to see why we deserve to be paid for our work.
Argyle Financial Group,