41.4.1 Charges for initial advice

The charge for initial advice is the responsibility of the investor/settlor. If the initial charge is paid directly by the investor/settlor from his own funds, there will be no adverse legal or tax consequences. However, other issues can arise where the settlor’s liability is discharged by the product provider on his behalf. Different issues arise depending on whether the facilitation is made in respect of a ‘new investment’ (i.e. one where the investment is about to be made) or an ‘existing investment’ (where the investment already exists).

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