“Price is only an issue in the absence of value,” Paul Young, head of business consultancy at Intrinsic, Quilter’s advice business said at the media launch of Quilter Adviser Delta. This makes MIFID II a positive step, with Quilter hoping the industry will reach the point where clients will rightly question the value of advice.

However, the introduction of MIFID II has made it necessary for advisers to define and quantify the value of their financial advice. Andy Thompson, chief executive of Intrinsic, said he is passionate about doing this as “time and time again over the last 30 years [I] have seen the difference financ...