Armchair critic: what is this 'bps' charging trend?

Buyers – of anything – should be told the price in the simplest terms possible. For me, that means the price in real money, not dressed up as a percentage or some other camouflage. Of course I accept that the interest I pay on a loan will be in percentages, but that’s about as far as it should go. When it comes to the cost of running a wrap platform or investment fund, I don’t see a place for percentages. Yet the percentage game plays on with a sophisticated twist coming from the basis points, or ‘bps’, boys. For many businesses in the financial services sector, going onto a ‘bps’ bas...