The FSA says although it has "mixed views" on the question of whether an adviser can be independent using just one platform, it is likely to push for IFAs to adopt multiple platform use.
In its platform paper published today, it questioned whether advisers using just one platform with products from the same provider can provide unbiased advice. The regulator suggested customers have different requirements which are best served by offering a number of platforms. "In practice, a firm with a varied set of customers is unlikely to be able to use a single platform for all their customers," says the FSA's platform discussion paper. "Additionally, a firm should not assume that platform services will be suitable for its customers." The paper adds: "We want to ensure that u...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
