David Ferguson on hidden charges: 'No-one adds up those little things at client level'

‘Enormous aggregational asymmetry’

clock • 3 min read
"I’ve got really high hopes actually for the consumer duty stuff, that we actually start to put some real accountability onto management and shareholders," said David Ferguson, incoming CEO of Seccl
Image:

"I’ve got really high hopes actually for the consumer duty stuff, that we actually start to put some real accountability onto management and shareholders," said David Ferguson, incoming CEO of Seccl

Many firms have hidden costs in their pricing models with rampant informational and aggregational asymmetry in the market, said David Ferguson, founder and former chief executive of adviser platform Nucleus, and the incoming CEO of Seccl.

Giving the keynote speech at the Lang Cat Live event on Thursday (10 February), Ferguson pointed to firms that had made more than half their profit on interest on cash in the recent past. "I alw...

To continue reading this article...

Join Professional Adviser

 

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
  • 
 Be the first to hear about our events and awards programmes.

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Aviva completes Succession Wealth acquisition

Aviva completes Succession Wealth acquisition

Announced in March

Jenna Brown
clock 11 August 2022 • 1 min read
Doug Brown: " They have a management team that has been very successful in M&A."

Aviva UK boss: Expect more consolidation from Succession

Half year results

Jenna Brown
clock 10 August 2022 • 2 min read
One Four Nine buys Aberdeen-based Chartered IFA

One Four Nine buys Aberdeen-based IFA

Total £800m AUM

clock 10 August 2022 • 1 min read