Platforms are questioning whether delays among the 'big three' propositions in listing investment trusts (ITs) may be compromising the independent status of the advisers who use them.
Cofunds and Skandia are yet to announce launch dates for the listing of investment trusts on the platforms, while Fidelity FundsNetwork, which initially planned to list in November, has said it is now unsure when the option will be available to advisers. "If a platform does not offer investment trusts or index trackers, I don't see how you can maintain independent status, unless you encourage [advisers] to go off platform which can get very messy," said Nucleus CEO, David Ferguson (pictured). The FSA said it would be "very rare, if possible at all" that a firm could use one platform a...
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