Fidelity and abrdn among firms joining new trade body for investment platforms

Amid growing regulatory scrutiny

Fidelity, abrdn, Quilter and Aegon are joining a new trade body for investment platforms, the Platforms Association, as regulatory scrutiny on the sector intensifies.

According to a report by the Financial Times, the association seeks to represent a wide range of investment platforms, from those offering ISAs and personal pensions to individual investors, to companies working in partnership with financial advisers. The Platforms Association will be headed by Keith Phillips, who previously served as an executive director at major industry bodies such as TheCityUK, the British Bankers' Association and The Investment Association. abrdn reduces platform fees and simplifies charging structure David Moffat, a senior director at technology firm SS&C, h...