Advisers are beginning to open up about their client conversations. Portfolios are a concern, they report, but we’re all much better prepared than we were in 2009. This time, it’s more about the people.
The advice industry’s fearful reaction to draft legislation requiring explicit client approval for advice fees to be deducted from accounts annually suggests that advisers believe some clients may not pay or renew. Paul Barrett suggests its time for advisers to rethink the ongoing fee model.