How do wealth manager fees stack up in the unbundled era?

While price is far from the only consideration taken into account by investors, the unbundling of platform charges has focused attention on fee models at the start of 2014. Numis' research shows, unsurprisingly, there is still a significant difference between execution-only platform prices and advisory/discretionary managers. With platform charges typically coming out at around 1.1% in the analysts' base case of a £120,000 investment spread across three accounts, this difference works out as less than half the price of an advisory/discretionary service. The analysts argue that make...