UK consumers aren't switching their wealth managers partly due to exit fees - Business Insider

a consultation on the issue, and it remains unclear whether and when such a rule will be implemented.

Some investment providers still opted to scrap their exit fees, including Hargreaves Lansdown, Fidelity, and Interactive Investor, which suggests that even if a regulation isn't in place for the time being, the industry may already be moving toward eliminating such fees. This would enable fintechs to gain new customers looking for cheaper alternatives for their investments. The survey suggests that if the exit-fee barrier is eliminated, more people will start browsing for alternative investment options.

Fintechs in the investment industry are known for their cheap products — with digital wealth manager Wealthsimple charging 0.7% on assets of up to £100,000 , for example, and Scalable Capital charging 0.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Monzo: Neobank plans to grow sustainably into US and continue UK push - Business InsiderMonzo, one of Europe's hottest neobank startups, wins 200,000 customers a month without marketing. Now it's coming for the US.
Source: BusinessInsider - 🏆 729. / 51 Read more »

US ambassador issues fresh Trump warning to UK and Europe over Huawei - Business InsiderTrump's ambassador to Germany warned allies that doing deals with an 'untrustworthy 5g vendor' would damage intelligence-sharing with the US.
Source: BusinessInsider - 🏆 729. / 51 Read more »