SERENITY, COURAGE, WISDOM – DISRUPTION AND INNOVATION IN RETAIL INVESTMENT PRICING FOR THE NEXT FIVE YEARS

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Welcome to the third of the lang cat’s Lockdown Papers. Serenity, Courage, Wisdom follows on from our earlier paper, Better, Stronger, Faster and looks at how disruption and innovation – two things that the paper distinguishes between – may play out over the next five years.

The fundamental finding of the paper is that after a decade of regulatory turmoil, advisers and planners are in the strongest position yet to reshape the industry in their own image over the next five years – and the first place this innovation and disruption will be felt is in pricing.

In the paper,we contend that for an industry which has seen so much supposed ‘disruption’ in the last decade, much remains remarkably similar to the pre-RDR world: today as in 2010, clients meet with an adviser, get some advice which normally carries an ongoing percentage charge and invest in a range of funds charging a flat percentage inside a product which charges them a tiered percentage of their assets.

Serenity, Courage, Wisdom identifies 13 areas of potential pricing innovation, and scores them on likelihood and impact on the total cost of investing over the next five years. Importantly, though, the paper highlights that not everything is broken. As well as the courage to change the things we can as a sector, it’s important to understand what can’t and shouldn’t change, and to have the wisdom to tell the difference between the two.

You can download the PDF, or visit the online flipbook here.

We’re able to bring you Serenity, Courage, Wisdom free of charge thanks to the generous sponsorship of Multrees Investor Services, Orbis Investment Management and Sparrows Capital. Big thanks to all three of them, and to you for reading.

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