Being told to “put your money where your mouth is” by an organisation co-founded by former Big Brother contestant Derek Laud, may not sound like the most enlightening guiding principle for fund managers, but apparently it is one worth repeating.

This, alongside the principle that wealth managers should choose the best products for their clients without bias, certainly isn't earth shattering, but the industry needs reminding, according to self-styled "prominent" think-tank New City Initiative.