Like chefs, financial advisers should be given their due

Let advisers charge initial sales charge once for new money, and not when rebalancing portfolios

I have been advising clients since 1998. Having gone through multiple financial crises, the greatest being the one in 2008, I know through experience and with evidence that in order to give clients a good investment outcome, the following steps are necessary:

•Having a suitable asset allocation (different proportion of money invested in equities and bonds) based on clients' needs and ability and willingness to bear risk. This is done based on an understanding of their current financial situation and future goals as documented in their financial plan;

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A version of this article appeared in the print edition of The Sunday Times on March 25, 2018, with the headline 'Like chefs, financial advisers should be given their due'. Print Edition | Subscribe