Recent research from Cerulli Associates has found that after surveying over 8,000 investors clients prefer fee-based advice as opposed to the commission-based option. Click here to read more.But these people are demographically different to insurance clients. Being older, and having capital, they can usually afford a large fee. They can easily rationalise self-financing: the expected return in an average year should well exceed the expected fee. The challenge will be how we get typical insurance clients to get to the same place - and all the while recognising that most of them do not have the money of lump sum investors. For those that offer fee-based research, and they are few, even fewer are tackling the financing of advice. This can be done, but takes effort.