Nucleus' Bradshaw: Funds industry guilty of ‘dirty tricks' in customer communications

Fund Management Summit

Investors will lose trust in the fund management industry if providers continue to play ‘dirty tricks' in their dealings with customers, the chairman of Nucleus has warned.

Platform veteran Paul Bradshaw argued the industry risks the same scandals that have engulfed the banks and life insurers if it does not stop “talking to itself”. He told an audience at Investment Week's Fund Management Summit: “It is really easy for an industry to only talk to itself about putting the customer first. This top-down customer orientation is not right. You have to start bottom-up. It is all about clarity and it is all about outcomes. Full stop.” He described a “Kafka-esque” letter his daughter received about fund charges: “It is really important, when we talk about putti...