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David Ferguson: "Risk should be measured as the likelihood of not achieving the client's personal outcome - not what we have at the moment, which tends to be one-dimensional volatility in the investment sense."
Fees across the whole value chain of advice could amount to as little as 1.2% in five years' time, predicts Nucleus chief executive and founder David Ferguson.
He and his colleagues at Nucleus have a working hypothesis that end-clients are currently charged an average of 1.8% across the full value chain but he expects this to drop by around a third in the coming...
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