Cultural shift needed as asset managers at 'inflection point'

The FCA's interim findings as part of its Asset Management Market Study, released last November, should have left the industry in no doubt about the direction of travel for the sector over the coming months and years.

While some asset managers may have tried to convince themselves only groups running 'closet trackers' or product ranges where costs have not been kept under control should be concerned by the findings, it is clear the regulator is expecting propositions to become better value and more transparent for consumers across the board. Many fund groups are now taking a closer look at their ranges and assessing the longer-term viability of some lacklustre performers and, importantly, whether products do what they say on the tin. FCA Asset Management Market Study: Top ten takeaways for the reta...