Gina Miller, head of the not-for-profit group, said the new calculator was the first of its kind to be launched anywhere in the world, and was the next stage in the campaign’s 18-month crusade against hidden costs and fees, allowing investors to see the likely profit and costs from their investments.
Ms Miller said: “This tool allows users to calculate the cost of their investments in one number, and we hope it drives new levels of cost transparency resulting in greater competition among product providers.”
The calculator is available at: trueandfaircalculator.com
ADVISER VIEW
Chris Daems, director of London-based Principal Financial Solutions, said: “Costs – and their impact on an investor’s overall returns – need to be far more transparent than they are, and I like the idea of a calculator that helps me do this. However, I found with this tool, that I would need to be armed with a great deal of information, which an investor may struggle to collect and collate accurately.”
