The industry has "no vested interest" in helping customers understand costs and charges on their investments as doing so could encourage switching, research from the lang cat has found.
The research, which was conducted by YouGov and polled a nationally representative sample of 1,345 UK adults with investments in stocks and shares ISAs, found just more than half (54%) were aware of the charges on investments held in their stocks and shares ISA. More than two-thirds (69%), meanwhile, had never switched provider, despite half (51%) of respondents being willing to change provider if they knew they could save money. The lang cat said an ISA market in which just more than half of investors understand what their investments cost, and in which 69% have never switched, "seem...
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