Eighty per cent of people expect their adviser to shop around for the best price on investments, research has shown.
Alliance Trust Savings surveyed 500 people with annual household income of £100,000 or above in July, and found that although most expect advisers to compare costs, they do not do so themselves.
“Consumers are very savvy when it comes to saving money on big ticket household items like washing machines, but it seems they are less aware of the difference comparing fees can make when buying investment products like Isas and pensions,” Alliance Trust Savings head of platform proposition Sara Wilson stated.
“Many investors expect their adviser to shop around on their behalf, but with so many fees to take into consideration, such as platform fees, fund management fees and transaction costs, it is often difficult for even professionals to compare.”
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