When I first became an independent financial adviser, the M&G Recovery Fund was flying high. The theory was that, by investing in out-of-favour companies and sectors of the economy, you could buy cheap and hang on for the inevitable recovery of more than a few of those choices. The problem was that it never really recovered from the crash of ten years ago. In fact, you’d have been better off putting your money in the bank in 2010 than hanging on in there. Those that are still hanging on in there after all this time will hope that the successor to its now-departed star fund manger will aid its recovery (see what I did there?) Not many, I fear, will be holding their breath.
“Timeline boss bullish about resilience of small and medium IFAs”
How we as advisers charge for our services has been the subject of navel-gazing debate in our profession for some time. Should we work on accountant- and solicitor-style hourly rates, charge a fixed subscription or have a menu of tasks and bill you accordingly.
