fees

LEADER

Analysts at Numis have compared charges from the likes of Barclays, Brewin, Coutts and Rathbones to investigate how industry fees stack up against platforms' newly-unveiled clean prices.

Deutsche Asset & Wealth Management has become the latest ETF provider to enter the price war raging across the sector, creating a range of low cost db X-trackers with an all-in annual fee of 9bps.

Treasury committee chairman Andrew Tyrie has accused the regulator of overcharging the advice community and asked for a refund of fees at today's grilling of chief executive Martin Wheatley and chairman John Griffith-Jones.

BNY Mellon Investment Management has scrapped the initial charge on all investments for both lump sum and regular savings plans across its onshore fund range.

Morgan Stanley has upped its price target on Hargreaves Lansdown by 50% after the bank's analysis suggested consumers are prepared to pay more for advice and platforms than previously anticipated.

The swell of new regulation in financial services "frightens" people away from seeking financial advice, while the proliferation of various fee structures is proving a "nightmare" for those who do engage, according to St James's Place CEO David Bellamy....

Total expense ratios (TERs) of 240bps for a combination of adviser fees, discretionary management charges, platform costs and fund manager fees are 'unsustainable' and will likely be driven down, according to Schroders head of UK intermediary Robin Stoakley....

INVESTMENT TRUSTS

IMA chief executive Daniel Godfrey says there is "no reason" why fund groups should not be able to agree a methodology for displaying costs more transparently by the end of 2013.