The Financial Services Authority (FSA) has said it would be concerned if firms claiming to be independent made "extensive" use of a single platform, or only one which pays a rebate.
In today's policy statement the FSA states an independent firm may "in theory" be able to use a single platform for the majority of its clients. But it gives a stark warning that it would be "concerned" if firms took this flexibility around the rules as a "green light" to make extensive use of a single platform, without thinking through the implications for clients. "In practice, and in the current platform market, which is changing on a frequent basis, we feel an adviser with a wide range of clients should not take the view that a single platform will be the right solution for the ma...
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