Advisers told to be careful of platform conflict of interest

Barrett said the biggest platforms in the market, with the exception of Transact, all operated on some sort of vertically integrated model or offered in-house fund management, which advisers had to make sure did not influence their investment decisions. The lang cat consulting director's comments followed the Financial Conduct Authority's (FCA) statement in its annual competition report that said adviser platforms suffer from an 'inherent conflict' because they are selected, and usually used, by the adviser while being paid for by the client.   Barrett referenced guidance in the Co...