Will naming and shaming businesses that drag their feet when advisers and clients want to switch platforms be enough to improve competition in the sector? Tom Ellis fears not
What do you want your regulator to do? As advisers, you pay your fees. You live, breathe and exist under its rule - whether you like it or not. Specifically - but not too precisely - our elected government gives it a mandate to protect consumers and to maintain and promote healthy competition within financial services. Or, in the even more general words of Financial Conduct Authority (FCA) chief executive Andrew Bailey: "The FCA regulates the UK's financial services sector to ensure that markets work well for individuals, businesses and the UK economy as a whole." Keeping all of that ...
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