Dermot Campbell takes a closer look at the changing landscape for adviser due-diligence on tax-efficient investment products.
The Financial Conduct Authority's Asset Management Market Study has highlighted its concern about competition in the asset management industry and the use of third-party ratings agencies in the selection of investment offerings. Similar conflicts are rife in the tax-efficient investment products section of the asset management market, with research providers deriving a significant revenue from fund providers. But this is all set to change. The second Markets in Financial Instruments Directive (MIFID II) will ban fund providers from distributing research for free, which will in turn ...
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