FCA looks at 'new golf days' in platform market study

Interim report to be published summer 2018

Tom Ellis
clock • 2 min read

The Financial Conduct Authority (FCA) is looking at whether platforms should be able to offer advisers free training services and events as part of its platform market study, Professional Adviser understands.

The regulator is looking at whether a conflict of interest arises from platforms offering free training services and events for advisers who use their platforms, taking into account it is the client who pays for the platform. Professional Adviser understands some advisers have drawn parallels to the golf days and inducements that providers used to offer before the Retail Distribution Review. In the FCA's annual competition report, the regulator said adviser platforms suffer from an "inherent conflict" because they are selected, and usually used, by the adviser while being paid for by ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Quilter reports platform net inflows of £1bn in first quarter

Quilter reports platform net inflows of £1bn in first quarter

Ongoing adviser charging review to start shortly after FCA talks

Jenna Brown
clock 24 April 2024 • 2 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
CGT support from platforms now 'adviser must have'

CGT support from platforms now 'adviser must have'

Shrinking personal allowances dragging more investors into CGT net

Jenna Brown
clock 27 March 2024 • 2 min read