FSA in new warning on 'one-size-fits-all' platform approach

In its latest Retail Conduct Risk Outlook, the regulator flagged up a number of risks associated with using platforms, which it said it would continue to monitor as an adviser take-up increases. It said said some advisers are adopting a "one-size-fits-all" approach to platform usage rather than adequately considering the suitability of the overall investment solution including product, funds, platform and advisory services. It also flagged concerns advisers are viewing platforms as default options and not adequately considering the whole of market, and particularly off-platform produc...