The asset management industry must accelerate its efforts to become fully transparent on fees and charges if it wants to better engage consumers, experts have warned.
SCM founder Gina Miller, Hermes Investment Management chief executive Saker Nusseibeh and former Investment Association boss Daniel Godfrey said transparency was the backbone of consumer trust and was needed to help spur interest in saving and investing. Speaking at the Morningstar conference in London on 11 May, Miller said the regulator was wrong not to mandate fee transparency in its implementation of European rules under MiFID II and should be doing more to pressure the industry to become transparent on charges. She said at present in order for advisers to ascertain the cost of an...
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