"The potential to distort competition" in the platform market is a key focus of the Investment Platforms Market Study, wide-ranging terms of reference for which the Financial Conduct Authority (FCA) published today.
The regulator said it would also explore which factors advisers prioritise when choosing, reviewing and deciding whether to switch platform, and whether platforms consider the end-investor when competing to win business from advisers In its Investment Platforms Market Study Terms of Reference (MS17/1.1), the FCA said the platform market, which has grown from £108bn in 2008 to £500bn in 2016, was becoming "increasingly vertically integrated", with commercial relationships existing between platforms, asset managers, discretionary investment managers and financial advisers. It added: "Th...
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