Five groups most at risk in the FCA asset management report
27 Jun 17
With the final report from the FCA’s market study of asset management due on Wednesday morning, speculation is rife about what the long-awaited recommendations could say.
We look at the five groups who could face the repercussions.
Even after previously ruling wealth managers as outside the scope of the market study, the FCA has since levelled criticism at the private client space claiming customers struggled to obtain information about the quality of advice and that the total cost to them “may only become apparent at a late stage of the sales process when the consumer may have already made the decision to buy”.
Entry costs, high fees charged for trading and the lack of a standard public disclosure of wealth manager portfolio performance were listed by the regulator as concerns, and left some speculating that they could turn their attention on to wealth managers.
With the ‘manufacturers’ dealt with in the asset management review, could it be time for a special mention of the ‘distributors’?
Tags: Asset Management | FCA
