The FSA's recent Discussion Paper on platforms implies there are many areas that need fixing in this area of the market. Although the paper is supposed to be a consultation document, the regulator appears to have some pretty strong ideas about changes it wants made, particularly to ensure the main aims of the RDR are being met.
Although the paper is supposed to be a consultation document, the regulator appears to have some pretty strong ideas about changes it wants made, particularly to ensure the main aims of the RDR are being met. The paper appears to flag up concerns about all sides of the platform space including supermarkets, wraps and the advisers who use these propositions. Poor disclosure from platform providers was one of the FSA’s biggest gripes. This not only encompassed charging but also poorly structured documents and a general lack of consumer focus. It is so worried about disclosure in this sp...
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