'Game changing' - the lang cat's view on Aegon price caps

Aegon's decision to introduce price caps on the Retirement Choices wrap and the One Retirement SIPP is "potentially game changing", according to platform consultancy the lang cat.

Aegon today announced that from 3 May, it would effectively cap the annual charges on both the SIPP and the wrap at £750 and £1,215, respectively. The lang cat has described the decision as an "extraordinarily positive move", and makes Aegon the first player in the advised space to adopt this approach. The lang cat analyst Steve Nelson said, in a blog post: "We have argued for this for a long time at the lang cat and it's great to see a provider being commercially brave and putting it in place." Nelson notes that while Aegon's new structure will make it more competitive for larger ...