Debate is raging about fees and will continue to rage, I suspect, because there is simply no right or wrong answer.

The FCA is to scrutinise the harm to consumers from advisers who levy ‘excessive fees and charges.’

More than four in five investors (84%) under-estimate the cost of investing and 13% are completely in the dark about the fees they pay, according to a new study by a Financial Planning-based wealth adviser.

The FCA is set to reduce its fees for advisers by 1.1% over the next year although overall costs for advisers could go up, according to its fee proposals published today.