Twenty Thousand Pounds, Three Percent, Two Years discussed on Money Box

Money Box


To start to rebuild that trust second of all we by putting our prices on our website we never have to have a conversation about fees people understand what we do just by looking at that page i think the the problem we have with the lack of trust now industries that people come to financial advisers when the desperate which means they either take a recommendation from a friend the first one they get they might take a leaflet from outside of the factory gates like forty happened import hct all they go online and they just pick the person closest to them now denison i working completely different markets and as he's just said we therefore specialize in doing different things but at the moment all of dennis's friends will be referred to dennis all of my friends will be referred to me and that's not necessarily the outcome for anybody but if you if you were dennis or at least if you had his clients have you concentrated on the welfare end of the market the half million and above say would you then still put your prices on their you'd still say well we might be more but you still say it will cost you i would have an and i would get this advice to anybody who does deal in that market put your alley right on there and give some case studies with prices in that scenario to at least give people ballpark they can work with isn't isn't the problem dennis if you if you don't tell people and sometimes advisable ceo charge in pitcher we talked about lesbian mentioned poor tolbert and people trying to get them to cash in the pension schemes and they will charge maybe three percent of the whole lot and they don't you find out very late on this was tens of thousands of pounds isn't it better to put something on there so people know way or coming from i wouldn't disagree with that paul and it's not as though personally i haven't tried this but quite some time ago i think how those disclosed and the extent to which you described the service it's got to be carefully done we probably went to a little bit like a bull in china shop by putting our fees on one point and we found you know no disagree with leslie here that actually sometimes that one point having fi conversation very early on became a barrier because they want you to know what that charges in what they were getting and you said but hang on a moment i am not able to describe the value that i'm going to be at to you on that i'm going to add to your life but i would say i don't even have that conversation with anybody when they're on the phone their expectations are already set and i don't have to explain anything they know pretty much what that what i'm going to charge them in advance and it's just about the logistics after that it's interesting to the hugh tried it and you've turned it down in a word why because we we found our inquiries were getting lower and for some people we were spending quite a long time having a discussion about fee rather than a discussion about how we might be able to help them let's say one word literally well disclosure i'm tired transparency trust we put it out let three good thanks very much now just before we go back again we're getting on mondays with this week tony last week we reported on plan legal action by graduates against outsourcing companies after some of them with training costs up to twenty thousand pounds you got an update yes paul so capita did confirms was last week that it will now be dropping its training charges on its novus scheme so definitely good news for future graduates but there was a question mark over existing people on that scheme whether they would be liable for these charges which normally apply if you leave within two years of starting work when download that in a letter to those affected capita say there will be no longer seeking to enforce any existing training fee repayment clauses so good news for existing graduates on that scheme to know nasty training bills for them very good news tony thanks and that is it for today there's more information on the.

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