Fidelity opens fee floodgates

Fidelity made the first significant move towards greater price transparancy through its platform FundsNetwork by publishing the fees it receives from fund management groups from 1 September.

It is to be applauded for doing so, and the announcement puts pressure on other platforms to follow suit. As Fidelity said in its announcement, the FSA indicated in its most recent statement on platform policy it intends to enforce consistent disclosure of platform fees and remuneration when the RDR is implemented. Fidelity said it saw no reason to wait until the end of 2012 to reveal this information, discrediting objections from other providers that administration problems make disclosure difficult. It is for advisers to decide whether the move will give Fidelity a commerical edg...