We’ve long suspected it, but finally have the evidence: complexity is highly effective in stopping people from understanding the charges they pay for investments and then switching.

That’s the main finding of the lang cat’s latest consumer research into how well people understand the charges on their stocks and shares ISAs, how likely they are to switch provider and what it takes for them to make that leap.

Joking aside, this isn’t a great state of affairs (for consumers at least) and we have some suggestions for things can improve at both provider and industry level.