Financial advisers should bill like accountants

Embracing the billable hour could help financial advisers stay solvent during
the recession, a fund manager has said.

JPMorgan Asset Management head of UK retail sales Jasper Berens told
Investment Adviser that hourly fee income is a lot more predictable –
and lucrative – than commission-based income at the moment.

There has long been debate over whether providing financial advice is a
professional service, like accounting and law.

Buyers of financial advice could be given the option of an hourly rate or an
annual fee based on commission income, Berens said.

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the Investment Adviser story

and development special: the art of negotiation

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