Platforms have failed to reduce the cost of investing post-Retail Distribution Review (RDR), the lang cat principal and founder Mark Polson has said, adding the regulator was onto them for the right reasons.
The Financial Conduct Authority (FCA) yesterday published plans to launch a platform market review, saying it wanted to determine whether platforms enabled retail investors to access investment products that offer ‘value for money'. In a separate Sector Views paper, the regulator indicated platforms had failed to give retail investors enough opportunity to take advantage of discounts on fund charges that their scale allowed them to receive. Polson (pictured) said this was proof the regulator "gets it". He said: "Platforms have done lots and lots of good things but have failed to reduc...
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