The rocky road to a fee-based advice business

The number of fee-based advisers could be set to grow following the launch of a new network but some in the industry believe demand will remain limited

Julian Penniston-Hill claims he will be able to attract 10,000 advisers to his fee-based network, Intelligent Money Advice, within a few months of its launch. Penniston-Hill hit the headlines last month with the launch of Intelligent Money (IM), a company that encourages investors to switch their assets from their existing intermediary and win back all the renewal commission in exchange for a £35 fee. He claims to have seen strong demand from IM clients for advisers who work on a transparent fee-paying structure. A hefty marketing campaign will create customers all over the country looki...