The bottom lineClearer disclosure is useful only when it lets investors connect percentages and fees to an actual holding period and amount invested.
The proposal
The FCA is consulting on a more consistent way for platforms, advisers and wealth managers to explain investment costs. The regulator says Consumer Composite Investments disclosures will replace parts of the existing PRIIPs and UCITS document framework and allow information to be presented more clearly.
The change is aimed at a persistent comprehension problem. The FCA reported that 30% of non-advised platform users surveyed did not know how much they paid for investing. The new requirements are expected to apply from June 2027.
What a useful cost disclosure should answer
- The total cash cost for a realistic investment amount.
- Which fees are one-off, recurring or tied to transactions.
- How costs change across holding periods and account types.
- Whether cash interest, currency conversion or product charges sit outside the headline fee.
Editorial note. This report explains a public record and is not investment, legal or trading advice. Facts may change after publication; the source links remain the controlling record.
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