Investment manager Vanguard is adding a £4 monthly fee to most accounts - including SIPPs - for balances up to £32,000 as it strives to meet rising costs.

Wealth management trade body PIMFA has urged the Financial Ombudsman Service to push up proposed cases fees for CMCs to better share the burden of costs between between claimants and firms hit by a complaint.

Investment manager and Financial Planner Abrdn has introduced a more simplified charging structure on its Wrap platform, including cutting prices by up to 15bps.

The FCA is proposing to increase its minimum and flat rate fees, as well as application fees, by an average 8.75% which could mean Financial Planners facing an overall hike in charges of 4.9%.

Nearly seven in 10 financial advisers (69%) expect continuing pressure on client fees due to the impact of the Consumer Duty.

The Glasgow-based pensions provider @SIPP has removed the set-up fee on its Solo SIPP for five months.

St James's Place, one of the UK’s largest wealth managers and a significant SIPP adviser, suffered a 21% fall in its share price at one point today after announcing a review of its much-criticised fees and charges.

The Financial Conduct Authority has revealed plans to raise its annual fee charged to its Financial Planning firm segment by 8.9% for 2023/24.

The Financial Ombudsman Service is to freeze its individual case fee at £750 for a third year as its strives to reduce the financial strain of its services on regulated firms.

Fund manager Vanguard is to axe its low-cost Financial Planning arm which was launched in April 2021.