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 Adviser Charging

Introducing behavioural science to your adviser charging

How behavioural science can help your conversations about charging


We’re committed to supporting your business, providing you with practical support to help you best demonstrate the value of your advice – and ensuring your clients get the financial advice they need.

You’ll find this in our book, ‘New Thinking - How Behavioural Science can help your conversations about charging’ accompanied by helpful videos and tips you can watch and download for yourself.

In the book you’ll find practical advice, which sets out how you can present your services and your charges in ways to help your clients understand the true value of financial advice.

Watch


Leading behavioural scientist Professor Paul Dolan and best-selling business author Steve Martin explain the effect behavioural science has on influencing people and how this can help advisers.

Read


How behavioural science can help your conversations about charging.

Adviser Charging book


Download your copy

The nine key areas of influence that drive behavioural science


MINDSPACE, devised by leading behavioural scientist, Professor Paul Dolan, and best selling business author Steve Martin, is a nine letter mnemonic or ‘checklist’ for the effects that drive behaviour.

We’ve put together a ‘Top Tips’ leaflet for advisers, explaining each part of MINDSPACE and giving some examples of how it could apply to your business.

Watch


A video commissioned by Aviva with Professor Paul Dolan and Steve Martin explaining how MINDSPACE could have a positive effect on your client charging conversations.

Read


MINDSPACE - The nine key influencing principles of behavioural science.

Mindspace


Download our Top Tips guide

Here’s a quick overview of how we’re applying adviser charging to our products:


Product

Initial adviser charging 

Ongoing adviser charging

Adviser charging on legacy products

Annuities and retirement plans

green tick

Not applicable

Not applicable

Bonds

green tick

green tick

green tick

Collectives *

Not available

Not available Not available

IPP

green tick

green tick

Not available

GPP

green tick

green tick

green tick

Platform

green tick

green tick

green tick

* We expect adviser charging for collectives to be mainly facilitated through platforms.

Helping you build a sustainable business model


Developing and refining a sustainable business model is key to success in the post RDR world. Optimising the service proposition for clients at an individual level will help you run a sustainable business.

Our iPad app called ‘Fees-ability’ can help you achieve this. The app enables advisers to model the long-term business impact of changing service, product and economic variables for each client. By entering your client’s product portfolio (and your costs to service) you will be able to assess the financial impact of each client on your business.

Fees-ability is available on the app store 

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WA01304 02/2017