Why the FCA is digging into co-manufacturing

Discretionary model portfolio solution assets have risen to £190bn, an increase of £46bn in the twelve months to Q3 2025, according to NextWealth. It's a remarkable 32% year-on-year rise and tells the tale of a growing sector. Co-manufacturing has been a big contributor to that growth story. Many advice firms have developed their own investment propositions and are looking for partners to deliver them at scale. In December 2025, the regulator acknowledged that some firms are finding co-manufacturing rules difficult to apply and committed to a formal consultation and a multi-firm MPS r...