Robo-advisers and deregulation can ease pension industry rip-off

Robo-advisers and deregulation can ease pension industry rip-off

It’s time to relax legislation to let fund-owners cut out layers of rapacious intermediaries and avail of low-cost online brokers

I was delighted to see that a new organisation has been established in Britain, called Scalable Capital. It is a robo-adviser charging 0.75 per cent per annum for a fully managed portfolio of financial assets plus 0.25 per cent fees within the funds that clients are put into.

Historically the fees charged by fund managers and financial advisers have been highly opaque at best, utterly excessive at worst. When you dig deep you will find that as...

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