Fund platform transparency

Professional Adviser
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The Financial Services Authority (FSA) has warned of the potential risk of using wrap platforms but ...

The Financial Services Authority (FSA) has warned of the potential risk of using wrap platforms but has ruled out any formal investigation into their use. It said while wraps were not being used in an inappropriate way, there were some areas where their use could lead to consumer detriment. It found wrap costs were difficult to understand with complex changing structures, including stepped charges dependent on portfolio size, transactional changes and differential charges between initial and ongoing fees. It also believed wrap charges could obscure the cost of products acquired and he...

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