Platform paper PS13/1: The end of the 'free' SIPP?

New Financial Conduct Authority (FCA) paper PS13/1 Payments to platform service providers and cash rebates from providers to consumers has transformed the way platforms are paid, and could have stark consequences for the SIPP market. Previously investment managers had paid a rebate from the annual management charge received to the platform. As a result many platforms appeared to offer a ‘free service’, leaving it difficult for investors to compare products and charges across the market. This could lead to better outcomes for providers paying such rebates to the platform, as they would...