Blog: Gone forever... the notion of platforms as distributors

clock

David Ferguson, CEO of Nucleus Financial Group, sees only good news in this week's platforms Policy Statement.

The FSA has delivered its long-awaited platform paper and my initial reaction is that the FSA has drifted back towards the direction of its earlier, transparency-obsessed paper. That paper advocated the banning of all rebates from fund managers, encouraged platform-to-platform re-registration and was a significant threat to the business models of fund supermarkets. And the clear assertion in this week's paper that the "proposed rule COBS 6.1E.1R requires the platform service provider to clearly disclose the fee/commission it arranges to accept from third parties such as fund managers"...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

Poor platform service 'significantly' affects 54% of advisers

Poor platform service 'significantly' affects 54% of advisers

Exclusive: Down from 80% the previous year

Jenna Brown
clock 02 December 2025 • 2 min read
Mark Sanderson: Getting to the point of platforms

Mark Sanderson: Getting to the point of platforms

'Platforms are there to serve investors'

Mark Sanderson
clock 28 November 2025 • 4 min read
How is tech changing platform asset migration?

How is tech changing platform asset migration?

'Every transfer should be compliant, transparent, and in the client's best interest'

Tom Mullaly
clock 17 November 2025 • 4 min read