Fees
Tax & Regulation | 15 Feb 24
FCA asks advice firms to provide Consumer Duty update
20 of the largest firms contacted regarding ongoing fees
Nucleus reduces platform charges for the second time
Delivering an average 3.2% reduction for eligible customers
Advisers switching fee structures in reaction to Consumer Duty fair value
With 3% of firms still in noncompliance
St James’s Place to overhaul charging structures amid ‘robust’ quarterly results
Changes will reduce the firm’s underlying cash result ‘over the next few years’
Should advice firms in Hong Kong and Singapore adopt a fee-based model?
One big issue is that the markets are ‘fragmented’