The study's conclusion: The clearer and more direct an adviser is about fees, the better.

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The more I studied Bogle and others, such as Burton Malkiel and Charles Ellis, the clearer it became that the vast majority of investors would be better off if they simply bought the entire market and held on.

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The report was unveiled on Thursday by Deputy Justice Minister Iain Gray, who said that the emergence of a "clearer picture" would mean the problem can be better tackled.

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The key is that direct dialogue translates into clearer marketing and better products because it makes everyone in the company accountable to the end user.

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The report, Great Expectations, says the key to good customer focus is happy staff and that changes such as easier appointment booking systems, clearer information about treatment and better bedside manner can make all the difference to patient experience.

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For one, it helps mitigate the risk of starting a business, which generally allows for a clearer head and better, sounder decisions.

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