Fees
North America | 27 Jan 17
Citigroup fined for overcharging 60,000 clients for advice
Citigroup Global Markets has agreed to pay $18.3m (£14.5m, €17.1m) to settle charges in the US that it overcharged around 60,000 clients £18m for advice and misplaced contracts over a 15-year period.
Best Practice | 27 Jan 17
Fee-based 1% model ‘overcharging’ UK clients, study finds
UK consumers are being overcharged by advisers who levy a percentage point fee on the value of the assets a client invests, with too much money going into the pockets of wealth managers, according to a new report by Capital Asset Management.
Millennials are willing to pay for financial advice, finds study
Investors under 40 are willing to pay for expert financial advice, according to the latest study by US consultancy firm Cerulli Associates.
Investment | 7 Dec 16
ANALYSIS: Time to put an end to rip-off passive funds
Active managers are under pressure like never before to either justify or cut their fees, but have passive funds been getting an easier ride than they deserve as a consequence?
Investment | 18 Nov 16
FCA demands ‘all-in’ charge in active management crackdown
The FCA has criticised the “weak price competition” among asset managers, attacking actively managed funds for failing to outperform their benchmark once fees have been taken into account.