Tom Ellis: FCA must walk the talk on platform switching

Some 12 months after it published the terms of reference for its investment platform market study, the Financial Conduct Authority (FCA) has done well to address the areas it needed to - and especially where competition is most obviously failing in the adviser platform space: switching. It must now hold its course, though, and make sure it sees significant progress and, if not, go on to introduce its promised remedies. In the interim report published today, the regulator showed it understands the barriers to switching. The FCA found it takes six hours on average for advisers to transf...