The asset management industry must feel like it is constantly getting a kicking. Just when fund flows and distribution settle down, up pops the regulator with another probe of one description or another.
The FCA’s latest market study, revealed in its 2015/16 Business Plan, is similar in scope to recent work on fees and costs. and also taps into the debate around competition within the industry. The implication from the regulator remains the same – lower fees equal more competition, and yet there is absolutely no evidence of that. I am not sure what a sensible definition of ‘competition’ would be that benefits the consumer. I feel the regulator looks at mainstream consumer sectors, such as supermarkets, and believes it can create a similar dynamic in asset management and financial advice....
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
