It is "easy" and "profitable" for the fund management industry to ignore the problem of excessive hidden charges, an executive fellow at the London Business School has said.
Speaking at a Transparency Task Force (TTF) summit, David Pitt-Watson (pictured) argued it was vital the investment and pensions industry worked towards a more transparent charging system. While the introduction of independent governance committees (IGCs) and charge caps were positive developments, progress had not been linear, he said. He told delegates: "Let us not be naïve. Every time we move a step forward we move a step backward. The reason is simple. It is easy and profitable to ignore this [the problem of excessive charges]. It is easier to hide the charge." Pitt-Watson expl...
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