A processing error which saw up to 64,000 Clerical Medical life policies overcharged has been identified, the firm says.
The traditional commission structure of the adviser market is evolving with IFAs opting for more varied ways of being paid, according to Skandia.
Lord Turner was either naïve or misleading when he suggested a charge of around 0.3% was possible on personal accounts as they cannot be delivered at a cost of less than 1% annual management charge, claims Standard Life.
The cost of including good financial advice in personal accounts would be offset by an improvement in investment returns, claims Skandia.
A relative of mine recently recarpeted her hallway. She's a single mum so funds are tight, and she asked a friend in the trade how much it might cost. He looked at the hallway and suggested it should be no more than £500.
The government has admitted while it is confident the cost of personal accounts can be lowered as far as 0.3% over the long term, the true cost for employees "cannot be estimated with certainty".
We have an emerging dilemma in terms of investment management and how an IFA can add value, or maybe more pertinently, justify their 0.5% trail commission.
APPROXIMATELY 200,000 investors in M&G unit trusts will soon see annual management fees jump by 50%, says this morning's Daily Telegraph .
IFA firm Chartwell has kicked off a campaign to push for disclosure of total expense ratios rather than annual management charges which the firm believes to do reflect the charges investors incur.
Research published today by Fitzrovia shows that OEICs are more expensive to invest in than Unit Trusts, when all expenses above and beyond annual management charges are taken into account.