Clients ‘in the dark’ after tax-planning firm closes
Universal Wealth Management advised clients to transfer assets to trusts to avoid care home fees
Fees
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International advisers more confident about fee transparency
Almost half of advisers have already transitioned their business model to take less upfront commission
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Investment advisory fees fall 5%
But still up 11% from 2015 level
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UK politicians prepare to pick apart adviser charges
The Pension Costs and Transparency inquiry will put charging models under the spotlight
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Phoenix takes £68m hit on charges and exit fee overhaul
Changes are not a result of recent criticism, Phoenix Life chief executive tells International Adviser
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Western Europe to go fee-only predicts deVere
DeVere Group’s James Green has said the firm is planning for a fee-only future, predicting that western Europe will move entirely to this form of remuneration ‘within five to 10 years’.
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End the fixed fee ‘gravy train’, says Morningstar’s Ptak
The time has come to offer investors a fairer deal and drop the fixed fees set by funds and replace them with performance-based charging, Morningstar’s head of global manager research Jeffrey Ptak has said.
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St James’s Place fails on disclosure says UK consumer watchdog
Financial advisers from St James’s Place are failing to comply with rules on transparency around charges and some are misleading potential customers about what they can offer, an investigation by UK consumer watchdog Which? has found.
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ANALYSIS: Will wealth managers avoid scrutiny on charges?
Has the FCA asset management review missed a trick by not expanding its demands for transparency to wealth management?
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Investors hit by £27.7m extra costs in FCA plans
Investors could see fund costs soar by £27.7m a year as asset managers pass on the expensive burden of satisfying new FCA regulations.
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FCA backs all-in fee in scathing report on UK funds industry
The Financial Conduct Authority has confirmed plans to crackdown on excessive fund charges in a damning final report on the UK’s £7trn asset management industry, and outlined plans to investigate the investment platform industry.
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Asset managers ‘subsidising’ own funds as fee pressures bite
Asset managers have been forced to subsidise their own funds in order to keep fees low despite soaring costs, research from Fitz Partners has revealed.