Reduced investor costs, trouble at NS&I and investing in ‘staycations’ – here’s our weekly heads-up on the financial stories that may have caught your clients’ attention over the weekend ...
FCA crackdown on fund managers saves investors £30m Fund managers have had to switch more than 320,000 customers to cheaper versions of their products after failing to justify their fees, analysis by The Times has found. Value assessment reports, which the Financial Conduct Authority (FCA) this year forced the industry to publish, found that the industry was making excessive profits — nearing 40% compared with about 4% for energy firms — and said that the charges were not always clear to customers. "As a result of the reports, the fees on dozens of funds were reduced, and others we...
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