The FCA's MPS crackdown: Five questions advisers will need to answer

When a market grows quickly, the regulator naturally asks whether governance, oversight, distribution and controls are keeping pace.  And when it comes to model portfolios, the Financial Conduct Authority has made its direction of travel blindingly clear of late.  Regulatory oversight is no longer a theoretical game of assessing whether a firm has a sound process, it is entirely about whether that firm can prove good outcomes in practice. With the regulator zeroing in on model portfolios, advisers can no longer view them as a convenient back-office solution or a slick portfolio con...