Is charging initial advice fees bad for the industry?
One firm argues it fuels a culture of ‘complacency and inefficiency’ – but not everyone agrees
Fees
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Standard Life locks drawdown price for retirees
As it reduces and simplifies charges for customers using its Wrap platform
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Look beyond AUM when segmenting clients, says UK regulator
As it tackles ’emotive subject’ of fees: ‘We don’t expect advisers to be charities’
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Isle of Man regulator wants industry views on fees proposal
‘Nature of the increases means that small firms should not be disproportionately affected’
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UK watchdog proposes adviser charge for invoices
It is ‘unreasonable for other fee-payers’ to continue to bear rising costs
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Swiss bank fined HK$400m for overcharging on fees
Some 5,000 client accounts in its Hong Kong wealth arm were affected
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Over 25% of Brits believe they need £100k to seek advice
Majority think independent financial advice provides the best returns for their money
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Brooks Macdonald drops charges on £1bn MPS range
Total cost to clients could still hit 2% once advice and platform fees are added
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Vanguard cuts fees on 36 UK and Irish trackers
Average ongoing charges figure across entire UK fund range is now 0.2%
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SJP hits back at ‘fundamentally flawed’ charges report
UK wealth manager said it is ‘hugely misleading to the end client’
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SJP set for price war with Schroders Personal Wealth
But it could still be cheaper to use an independent adviser
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Raymond James to pay $15m for overcharging US investors
Retail clients overpaid fees because firms failed to review accounts