Platforms: Fund due diligence is adviser's responsibility

Last month, a host of major platforms suspended new investments into Castlestone funds pending the outcome of an FSA investigation. The episode raised questions over the degree of due diligence platforms should undertake on funds - or whether the responsibility lies solely with advisers. Fidelity head of commercial Ed Dymott said every fund on FundsNetwork goes through a full due diligence process lasting up to three months. It also monitors fund partners on an ongoing basis through its investment partner Oversight Group, which meets monthly. But Dymott  also stressed the responsib...