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Gerard Lyons, chief economic strategist at Netwealth, says: “The OECD in its recent forecasts said the full impact of the tariffs has yet to be felt, and I do think we need to wait and see. There was certainly an impact before the tariffs came in, as people prepared for them. We seem to have settled into a post-tariff world. The inflation impact has not been as much as feared, and the OECD has not particularly revised its forecasts by much.”
Charlotte Ransom, of investment managers Netwealth, said: “When the Government meddles with tax-free cash and inheritance tax, it erodes public trust. People need certainty for their retirement planning, not shifting goalposts.
'A US cut in interest rates would help the Chancellor in her hour of need' - Gerard Lyons
Charlotte Ransom, CEO of Netwealth, said: “Financial planning and investment services are rightly seen as essential tools for protecting and growing capital throughout a working lifetime. While investment performance remains a major attraction, there is growing awareness of the impact high fees can have on long-term, net-of-fee returns and, ultimately, on financial outcomes.
“While investment performance remains a major attraction, there is growing awareness of the impact high fees can have on long-term, net-of-fee returns and, ultimately, on financial outcomes."
Research conducted by Netwealth found that out of 765 individuals with more than £500,000 of investible assets, 42% said they would consider switching to another firm because of their current provider’s high fees.
“Investors are increasingly asking whether the net returns on their investment pots truly justify the cost, especially in light of the consistent outperformance of strategies implementing lower cost passive funds compared to more expensive active managers in recent years.
Clients are choosing their wealth managers based on performance but abandoning them due to high fees, a new survey by Netwealth has revealed.
