AJ Bell founder Andy Bell has written to new FCA chief executive Nikhil Rathi, arguing the implementation of ‘investment pathways’ will be dangerous for drawdown consumers.
Bell, who co-founded AJ Bell in 1995, warned the new Financial Conduct Authority (FCA) chief that while the pathways policy was well-intentioned, in reality, it is "fundamentally flawed" and "will not deliver the customer outcomes the regulator has set out to achieve". Bell (pictured) said: "The FCA clearly has its hands full dealing with Covid-19 and I derive no pleasure from taking potshots at an already overburdened regulator. "However, where I see an intervention that so obviously risks causing real and lasting consumer harm I cannot simply stand quietly by and watch it happen, ev...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.