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Investment advisor on fund price adjustments: Nonsense to attribute to MiFID II

Founding partner of advisory firm Connectum Dr. Nils-Odd Tønnevold reacts dramatically to Norwegian banks adjusting prices, which leads to more expensive index funds. KLP and Sbanken also disagree that a price hike necessary follows from regulatory compliance.

Investment consultant Dr. Nils-Odd Tønnevold, co-founder of advisory firm Connectum. | Photo: Foto: Connectum

Investment consultant Dr. Nils-Odd Tønnevold, co-founder of advisory firm Connectum, says a systemic failure is taking place in the Norwegian financial sector as the business interests of banks dominates the picture and deprioritizes customers' interests.

Tønnevold says this is clearly illustrated by several domestic banks having recently introduced a platform fee on funds at a level in line with prices on index funds and actively managed funds.

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