From January 2013 advisers are preparing to dump their unprofitable clients, if you have investments worth less than £500k this could be you.
This story was covered in the Investors Chronicle this week.
Currently IFA’s and advisers are paid commission but from January they must charge fees, typically starting from £250 per hour.
The new regime is called the Retail Distribution Review (RDR).
Lloyds Bank have already said that they will stop their mass market advice from November, Barclays have already pulled out of face to face advice.
Where will you get your advice?
steve@bicknells.net
