FCA's Platforms Market Study examines financial advisers' 'impact'

The regulator has said it plans to complement its analysis of supply-side issues by exploring how the interaction between consumers, their advisers and platforms affects competition. "In doing so," it added, "we will explore the impact financial advisers have on competition between platforms." According to the FCA, a principal-agent relationship often exists between consumer and adviser in this area because, when consumers receive financial advice, their adviser may also recommend a platform to use or may choose a platform on behalf of their clients. FCA focuses on 'potential to disto...