News

Roboadvice may be a solution to fee pressure

Monday 16th of May 2016

There have been claims that adviser fees of 1% per year of funds under management are unsustainable in a low interest rate environment.

Adviser Chris Lee said those charging that level of fee were on borrowed time. "The model might have worked when interest rates were 8%, but how does it work when bank rates are so low?"

Robert Oddy, SiFA's chairman, agreed it was a problem.

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