16 July 2018

FCA study shows no “one size fits all” assessment for platform market – Ascentric

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Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Personal Finance Specialist

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Commenting on the FCA’s Investment Platforms Market Study Interim Report Justin Blower, Head of Sales and Marketing of Ascentric said:

"It is encouraging that the FCA has recognised the important role of platforms in the value chain and the benefits they can deliver. However, the nature of the platform market, with its diverse range of models covering both adviser-facing and direct to customer platforms, has highlighted that there is no “one size fits all” assessment. For the most part, the market does deliver benefits but there are areas where it may not be working in the best interests of the end customer. Some of the findings on the lack of transparency around costs and charges help to reinforce Ascentric’s decision to move to all-in simplified pricing, making it easier for advisers and their clients to understand the total cost of investing without having to worry about any hidden extras. We will now review the detail of the Report’s findings and engage further with the FCA to ensure this market truly delivers the benefits it is intended to provide."

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For further information please contact:

Helen Morrissey, Personal Finance Specialist

Note to editors

Here you can read The FCA’s Investment Platform Market Study – Interim Report 

About Ascentric: 

Ascentric, IFDL and Fundsdirect are trading names of Investment Funds Direct Limited (IFDL). 

Investment Funds Direct Limited was founded in 1982, and Fundsdirect launched as the UK’s first online fund supermarket in December 1999. Since that time, the company has built on its reputation as a leading UK fund supermarket to provide Financial Advisers with a Wrap platform under the brand name of Ascentric. It provides a full white label solution for institutional clients requiring bespoke technology and administrative services. 

Ascentric is a Wrap platform, available exclusively to financial advisers and offers a fully integrated online investment management and dealing platform. It also enables advisers to transfer their clients’ assets onto a single platform to provide them with the ability to manage their client’s financial needs in just one place.

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.