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WHAT LIES BENEATH

Online fees for direct business-to-client services look set to tumble in an impending industry shake-up, but beneath attention-grabbing platform price cuts other costs may lurk

When Vanguard UK announced a 50% reduction in its UK closed-platform fee structure for online clients recently, it certainly caused a stir.

‘FINANCIAL SERVICES HAVE BECOME EXPERT AT ENSURING THAT VISIBLE FEES ARE JUST THE TIP OF THE ICEBERG’

One commentator heralded it as “throwing down the gauntlet to high-charging rivals and financial advisers by slashing fees to less than half the UK average”. Since the announcement, I have been asked about little else.

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