Saunderson House: Fund groups need to bring down their fees

Charges currently 'not fair' for large wealth managers

Saunderson House's managing director Tony Overy, and investment director Chris Sexton talk to Hardeep Tawakley about challenging fund providers on costs, growing their client base and keeping asset allocation simple.

The wealth management industry is only part way through a major transformation. A wave of regulation has hit firms in recent years and challenged the way they work and service clients. In particular, the Financial Conduct Authority (FCA) has increased its scrutiny of wealth manager practices, and an ongoing investigation is looking at improving suitability standards across the industry.  These reviews have caused significant downward pressures on profits for wealth managers, with many still adjusting to the fall-out from the implementation of the Retail Distribution Review (RDR) in 20...