July 29, 2014

Investors warned over 13 ‘sneaky’ charges from fund supermarkets

Investors have been warned about 13 ‘sneaky charges’ from fund supermarkets following the ban on receiving commission from fund managers. While fund supermarkets have responded by introducing their own ‘platform fee’, The Sunday Times (via Nutmeg) has warned investors of a number of charges that undermine moves by regulators to make charges clearer.

Amongst the charges mentioned include an ‘entry’ fee of 5% by St James’s Place on a client’s first investment and a £8.75 ‘inactivity fee’ from Selftrade.

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