To bundle or not to bundle?

In the somewhat heterogeneous world of platforms, there are currently two pricing trends emerging. In the retail market, spearheaded by the RDR, there is a movement towards unbundled fee structures. Meanwhile, in the institutional space, increasingly serviced by defined contribution (DC) pension platforms, there is a tendency to move away from unbundled structures towards bundled structures. This divergence in the market is very interesting and worthy of closer examination. There are good reasons for both movements, and their coexistence is by no means untenable or problematic. In fact, ...