Non-profit organisation True and Fair Campaign has launched a new online calculator aiming to provide clients with the full details and extent of what they pay for their investments.
The new online calculator will enable investors to fully analyse the cost of all investment products available in their home country.
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True and Fair Campaign said, the new tool will give users the total cost of the investment in pounds as well as a percentage, and can take into account fund, wrapper, platform and adviser costs.
The calculator uses the Reduction in Yield (RIY) method, which calculates the overall effect of charges on an investment as the difference between the return you would have received with and without costs.
True and Fair Campaign founder Gina Miller said: "We hope this drives new levels of cost transparency which results in greater competition among product providers, gives information to aid better decision making by consumers and their advisers and provides a foundation for more realistic investment expectations."
Profits raised by the calculator will be donated to charities for financial education and care for the elderly, according to True and Fair.
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