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Personal finance: Fees and advice

The old fees structures are breaking down and investors should benefit. But changing rules on advice may be counterproductive

By Prospect   March 2012

Driving down the costs of fund management Merryn Somerset Webb, editor-in-chief, MoneyWeek

Ever had the feeling that your fund manager is getting rich faster than you are? If so, you are on to something. He or she probably is. The charges on the average fund in Britain are very high indeed. You may or may not pay a fee to buy the fund in the first place but once you are in you will pay something in the region of 1.5 per cent a year in management fees plus another 0.5 per cent. That might not sound like much…

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