UK - Isis Asset Management has called on fund managers to follow its lead and waive initial charges when schemes reinvest dividends in DC funds.
Isis decided to waive the charge to benefit clients following the integration of Friends Ivory & Sime and R&SA Investments last year.
Isis director of communications and strategy Jason Hollands said: “Fund management companies need to take a fundamental look at how investments are marketed and how investors are charged.”
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.