Thou shall not pass: Who governs the gatekeepers?

How to avoid a repeat of Woodford and beyond

Reflecting on recent events, thoughts coalesced in my 'mind castle' as to the role of investment gatekeepers, model portfolio services, fund buylists and the very future of fund research.

The role of fund 'gatekeepers' has risen in dominance in the UK and, given the increasing detachment between the fund industry and financial advisers, are we focusing enough on the gatekeepers themselves?  I was reading that the planned post-Woodford legal cases against Hargreaves Lansdown had withered in favour of an easier target, Link. It was reported that a key reason was difficulties in proving the level of influence the Hargreaves 'Wealth' fund list had on fund investors. By being largely unregulated it made prima facie culpability and the burden of proof more difficult. Gate...