The FCA has announced it will launch a market study on asset management in 2015/16.
The regulator already has a wealth management review underway, looking into the suitability of client portfolios and assessing improvements in standards.
In February the FCA said it would consider undertaking a market study into asset management and related services later in the year.
Today, in its new business plan it stated: "We will launch a market study on asset management in 2015/16. We will develop the full scope during this year but the issues we will examine will include the charges paid by investors, and the factors that drive those charges.

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"These will be set out in a terms of reference document that will be published when the study is formally launched."
On post authorisation review of funds, the report stated: "We will review whether UK authorised investment funds and segregated mandates are operated in line with investors' expectations as set by marketing material, disclosure material and investment mandates.
"We will also consider compliance with other responsibilities to investors such as adherence to risk management parameters."
The National Association of Pension Funds – which represents 300 pension schemes providing for over 17 million people - raised concerns about the asset management market last month.
The body cited the prevalence of non-disclosure clauses in fund management agreements as "unhelpful to the proper functioning of a competitive market".
The NAPF also drew attention to the issue of custodial services, an area, which it said, had "significant barriers to entry and an increasingly narrow range of providers".
Will Pomroy, the NAPF's policy lead on corporate governance, said: "It is crucial that pension funds, as clients of the asset management industry, are able to have trust in the industry and be able to assess whether they are extracting value for money from their agents in the interests of their members – future pensioners."
The FCA announced in February its plans to launch its first wholesale market study into investment and corporate banking to assess whether competition in the sector is working properly.
The Institute of Directors called for a probe into the fund management industry last month, saying the FCA should make this its priority.
Reforms to bring about greater transparency and clarity around pay, fees, stewardship and voting record are required, the organisation said.