It seems we've seen the back of clean and super clean share classes, which is a relief as the whole thing was very tedious and did little to further the discussion about the value the asset management industry provides.
Of course, we have not done away with new, cheaper share classes, and it surely will not be long until no-load funds become more widely used in the UK. But that's for another time. What we have moved on to is the cost of ownership. Daniel Godfrey has done a good job in his first year in the hot seat at the IMA trying to generate a more rational debate about the cost of investing. He has done well despite the efforts of the disingenuous True and Fair campaign, and others with a self-interested agenda. It is not a groundbreaking statement to suggest the industry is too expensive, ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes