VitalityInvest, the investment arm of Vitality, has introduced a 0.15% annual product charge with a charge cap on amounts invested above £200,000.

Savings and retirement provider Phoenix Wealth is to cap charges on some of its pension products from March.

Investment platform Parmenion is to introduce new charges to help cover the cost of work involved in selected products.

Reported total revenue earning from retail investment intermediation fell by 1% to just under £4.4bn according to data drawn from the FCA’s retail mediation activities return (RMAR) for 2020.