I thought I would kick off a discussion.
So with the power of £0 fees comes the opportunity to build your own fund, e.g. I can now buy all ftse 100 shares at £10 each for a total of £1000, or put £1000 into a ftse 100 etf.
Now true it is a lot of shares to have to manage by yourself but it does mean that you definitely own the shares, rather than the fund owning the shares and you having a stake in the fund.
Also yes some funds do give access to hard to buy assets.
But for some extra effort you truly could mirror a fund or etf but not have to pay any fees thus actually out perform such funds?