'Build a wall' between investment and planning - Mark Polson

In a white paper, published in association with Standard Life, the lang cat principal, who expects to see firms professionalise the investment side of their businesses, has argued running client money and financial planning "don't have all that much to do with one another". He predicted: "We will see carve-outs - some firms have already set up separate entities to do with investment management portfolios, and that makes sense to me. And, alongside that, those firms will push towards discretionary permissions because the admin load is just less if you are a discretionary manager." Grah...