John C. Bogle argues that the financial industry often takes too much from investors' returns through high fees and charges.
UK investors should consider low-cost index funds to maximise their returns and avoid underperformance by actively managed funds.
Bogle highlights the issue of misaligned incentives in the financial industry where fund managers are paid based on asset size, not performance.
UK regulations have taken steps to address these issues by banning commission-based advice, but investors should still be cautious of fees and over-trading.
