FCA to assess firms' vertical integration in platform market review

Concerns of conflicts of interest

Tom Ellis
clock • 2 min read

The Financial Conduct Authority (FCA) has said it will assess firms' vertical integration and "the entire value chain" of investing, as well as the platform market, in its upcoming platform market review.

In its asset management review published on Wednesday, the regulator said vertical integration - where a provider also owns an advice firm - raised questions about competition in the market. The FCA also noted advice costs were often claimed to be one of the largest portions of the value chain and said a number of respondents put forward concerns of conflicts of interest in vertically integrated firms. The regulator said: "Within the advice market, vertical integration of advice, platform and fund management in some firms, the growth of model portfolios and the role of third party rat...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Quilter Invest launches targeted support offering

Quilter Invest launches targeted support offering

Uses an attitudinal-based assessment

Jen Frost
clock 01 June 2026 • 1 min read
Risks and opportunities from the 'death of the annual review'

Risks and opportunities from the 'death of the annual review'

'Annual reviews have historically acted as a safeguard against disengagement'

Graeme Devlin
clock 29 May 2026 • 4 min read
Non-financial misconduct: Rising expectations and rising exposure

Non-financial misconduct: Rising expectations and rising exposure

'Managers need to know what to look for and what to do in the moment, including when to escalate'

Sarah Jackman
clock 27 May 2026 • 5 min read