Discussing Fees with Your Financial Adviser

Tips for advisers and clients on how to broach the subject of paying for advice and arranging fees

Yellowtail Financial Planning 27 November, 2012 | 6:01PM

This article was written by Dennis Hall, the founder of Yellowtail Financial Planning. It was written specifically for Morningstar’s special series about the Retail Distribution Review (RDR) in the UK. It is part of Morningstar's "Perspectives" series, which is a series of articles written by third-party contributors.

Have you ever stopped to consider how much financial advice actually costs? Possibly not, because in the past financial advice was traditionally paid for through commissions. But this is now changing.

The Retail Distribution Review (RDR) is bringing about fundamental changes in the way that financial advice is paid for. Starting in 2013, consumers and advisers alike will experience a greater level of transparency and clarity about the costs of advice. This will be unlike anything they may have experienced before.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Yellowtail Financial Planning  is a London-based firm that helps clients create personalised financial strategies. Yellowtail has offices at Bank and Canary Wharf.

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