Top tips for MiFID II cost disclosure
New requirements on costs and charges disclosure are giving advisers a headache.
It is no wonder some advisers have re-named the aggregated information on costs and charges they must present to clients under Mifid II “aggravated” information.It is a headache on many levels, not least a lack of understanding, a lack of information, a lack of accessibility and confusion due to it being presented in different formats.
Platforms may well provide a document that contains all the information to be issued to clients but advisers must ensure the information they have inputted – such as fund amounts to be invested and adviser charges (initial and ongoing) – are correct. Errors will affect the accuracy of disclosure.
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