PA's Platform Market Study: Is vertical integration failing on client costs?

'Anchorman and his deep burn'

Tom Ellis
clock • 7 min read

In the second article of our series looking into the Platform Market Study, Tom Ellis looks at how vertical integration and commercial relationships affect the platform market and, in particular, how they affect the cost of investing for advised clients

Vertical integration and other such commercial relationships have been a hot topic since the FCA said they raise "questions about competition dynamics and value for money" as a prelude to the release of its market review's terms of reference. The fact the watchdog would raise such issues before it launched its platform market study goes some way to suggest how the FCA will approach this part of its review, as do the two questions it asks stakeholders. Specifically, it wants to know: Are platforms and similar firms able and willing to negotiate a competitive price on investment charges...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Wrap/platforms

AJ Bell platform hits record AUM as inflows rise 19%

AJ Bell platform hits record AUM as inflows rise 19%

13% rise over the past year and a 1% increase in the quarter

Linus Uhlig
clock 24 April 2025 • 2 min read
Wealthtime signs ten-year deal with Wipro to overhaul platform

Wealthtime signs ten-year deal with Wipro to overhaul platform

The firm will use Wipro's artificial intelligence

Sahar Nazir
clock 01 April 2025 • 2 min read
Adviser platform assets up to £616.2bn in 2024

Adviser platform assets up to £616.2bn in 2024

Strong advised platform new business throughout 2024

Jenna Brown
clock 19 March 2025 • 3 min read