FCA: Firms should take heed of Nutmeg's fee transparency

The Financial Conduct Authority (FCA) "remains concerned" over how businesses communicate charges to consumers, and has suggested Nutmeg as an example for investment firms to follow.

In a discussion paper on how firms communicate with consumers, the regulator said the financial services sector can do more to ensure customers both appreciate the total costs they may incur and do not ignore potential additional charges. For investment firms, a number of FCA initiatives relating to charges are already in the pipeline - including an investigation into asset management fees and costs - but the discussion paper contains further suggestions of what the regulator sees as good practice. FCA cranks up pressure on transaction cost disclosure Noting that the compounding...