IFA Fees
Catbells
Posts: 859 Forumite
How are IFA fees normally paid? ie directly by the client or taken from the investment income. Do clients receive a statement of fees ? Thanks.
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Comments
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Could be either. Depends on what you agree with the IFA, for example it is much more tax efficient to pay for fees out of a pension fund rather than direct for pension advice as you have received tax relief on it.
The IFA should agree the fee with you and agree a payment method before making any recommendations.
Quite flexible though and something to discuss with your adviser at the initial phase of your relationship with them.0 -
Thanks. There is no pension involved but an investment fund. A fee of .5 was agreed which is taken from investments so no provision for the investor to check how much this figure is. There has not been a statement of fees given which I would have thought necessary.0
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