Mifid II has proved every bit as problematic as we feared. The development budget consumed across providers, advisers and discretionary fund managers (DFMs) in the lead-up to launch amounts to more millions than anyone cares to add up. And the spending hasn’t stopped.
The UK’s Financial Conduct Authority has taken aim at risk-targeted model portfolios in its platforms study, which has sparked calls for platform providers to re-evaluate “subjective” branding and the amount of information they disclose.
Discretionary fund managers’ lack of willingness to use investment companies in model portfolios is hindering their adoption on advised platforms, according to the Lang Cat.
The UK’s pension transfer boom could be over, according to research released by financial services consultancy firm The Lang Cat.
Financial services consultancy The Lang Cat has been commissioned by IFA network Sense to provide its members with proposition details and due diligence support for when they are selecting a platform.
Approximately 90% of the £519bn ($724bn, €587bn) assets held on adviser platforms are at risk of disruption from a major business change, according to The Lang Cat.
Some of the biggest names in UK retail are charging investors nearly double the ongoing charges figure (OCF) of their funds, Mifid II regulations have brought to light.
Barclays’ announcement on Monday that it has launched an execution-only platform should come as no surprise. But, it should serve as a reminder to wealth managers not to get too complacent.
