Investment platforms continue to charge deceased consumers, report reveals

In its report, the firms revealed the cost and bureaucracy that loved ones face when a relative dies. They are calling on government and regulators to ban ongoing charges for customers when they die, and to force companies to provide quicker, easier ways for the bereaved to close accounts. The research showed that a majority of investment platforms charge customers both a platform fee, as well as any fund management charges, until the account is closed - which can be many months after the customer has died. Additionally, it suggested that many firms charge for the money to be released...