View more on these topics

FSA to exclude advice platforms from reforms

The FSA says wealth managers and advisers who provide administration services to clients will not be considered as offering platform services.

In its consultation paper on the platform market published today, the FSA proposes to define what constitutes a platform service and what firms would be classed as platform providers.

The FSA says although wealth managers and advisers may have custody of client investments and carry out reporting, this does not necessarily mean they are necessarily providing platform services.

The FSA says: “To ensure that wealth managers and advisers are not subject to our rules where this is not appropriate, we propose to exclude from our definition those services that are solely paid for by adviser charges and those services that are ancillary to investment management.”


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm