How financial advice can cost you a bomb in trail commission

Updated

David Parry/PA Wire

Charges for financial advice are a murky area but help may just be at hand to help you avoid the one of the most common pitfalls when paying for your financial advice, forking out commission for an ongoing service you never receive.

Let's face it, nothing is free, especially expert advice. And like any other specialist that you go to see, such as a solicitor or a doctor, a financial adviser is only right to expect payment. It's the terms of that payment that lead to problems.

Many good independent financial advisers give you the option of paying a one-off fixed fee up front for their services as they handhold you through the minefield of pensions, ISAs, investment products and insurance.

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