Consumer Duty regulation, the ongoing cost of living crisis, consumer morale and competition for cash have “wreaked havoc” on the platform industry over the last year and turned sales into a “bloodbath”, according to Fundscape.
New performance data published by the research house today (17 August) showed adviser platform business was weak between April and June, with net flows the lowest net sales total since the end of 2011. "All advised platforms were home to a downturn in gross and net flows while a small number registered a second quarter of net outflows, Fundscape stated. "One reason for this has been the industry's focus on the implementation of Consumer Duty, which has inevitably led to less time with clients." True Potential came out on top in Fundscape's Q2 analysis for retail advised channel platfo...
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