There are benefits to be found in the regulator’s idea to align regulation across the wealth and fund management industries.
That being said, there are obvious downsides too, with the Personal Investment Management & Financial Advice Association speaking out this week on what it says is an uncertain future for managed portfolio service (MPS) solutions. Actively-managed multi asset options are hot right now and the news they are under threat proved to be our most popular story this week. While I agree with what the trade body says - that costs will make it economically unviable for firms to offer MPS - I also thought about Consumer Duty. The watchdog wants firms to care just as much about client outcomes as they c...
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