We have had no problems first meeting for free, judging the work to be undertaken and then charging a fixed fee – some you may not make a profit on, if incorrectly assessed; others you will make a profit on, if the work turns out less than assessed at outset.
If they then want to have regular review meetings, which are more than simply producing computer generated rubbish, then charge them a percentage of assets invested, whether it be in cash on deposit – which still requires management – or percentage of monies invested, over which you are keeping a watchful eye.
Whichever way you do it, the client has to feel it is value for money and that you can give them something they cannot do themselves.
Sell the sizzle not the sausage.
However, RDR is a mess and many advisers will be squeezed out when the clients start writing cheques.
AG Financial Planning