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Just one bad DIY decision made by an elderly person can amount to much more than the original fee for advice would ever have cost.
Gaeso, he claimed, had charged him £900 – including the visa fee – for advice, adding: "They talked about lots of benefits and housing but I have found nothing.
Some independent financial advisers are offering "snapshot" deals where you pay a one-off cash fee for advice, assuming you don't want an annual check-up.
That means brokers who charge a fee for advice — or provide an account with a fee based on a percentage of assets — are subject to the Investment Advisers Act and the higher fiduciary standard.
This approach may seem more realistic than either charging a fee for advice or placing other obstacles in the way of showroomers.
This means the advisor will charge you a flat fee for advice (and will thus be motivated to retain you as a happy customer by providing good advice appropriate to your needs).
Similar(53)
L&C doesn't charge fees for advice.
Investment bankers and lawyers would reap huge fees for advice on the transactions.
It imposed a fiduciary duty on brokers who charge fees for advice, no matter what their title.
Banks involved in the deal are also well-placed to pick up fees for advice and other financing services.
He said he was happy to report that some clients had begun paying flat quarterly fees for advice, regardless of whether his firm recommended for or against a deal.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com