FCA to assess firms' vertical integration in 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...