UK. Pension advisers are charging high fees for cheap funds
Pension drawdown investors are being short-changed by advisers who recommend cheap tracker funds but charge higher fees typically paid for a more diversified portfolio.
Provided that the risk profile of the investment matches that of the client, such advice is not technically wrong and, on the surface, appears cost-saving. But it also allows the adviser to extract more fees for less work.
Simon Williams (not his real name), 60, is one such client. The accountant wishes to remain anonymous because his pension transfer is not yet complete.
Read More: Telegraph
