Fund managers' 'hidden fees'; 'wasted' pension transfer advice costs; and climate risk for pension funds - here's our weekly heads-up on the financial stories that may have caught your clients' attention over the weekend …
34 fund managers investigated for ‘hiding' their fees The Financial Conduct Authority (FCA) is investigating 34 investment and pension companies for failing to meet Markets in Financial Instruments Directive II rules that force them to disclose the true cost of their funds in a single place rather than on separate web pages, this Sunday Times article reveals. The details of the investigation have emerged by way of a freedom of information request from wealth manager SCM Direct, which has estimated investors pay an extra £900m a year in charges that are not fully disclosed. It is unknow...
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