Fund platforms
One way IFAs can regain pricing power is via fund platforms. We are yet to see fund platforms, which aggregate a significant proportion of investor savings, take advantage of their scale by seeking institutional fee rates for their adviser base. This seems to be the one area where substantial cost savings can be made. Perhaps the FCA’s platform review will yield this benefit because independence should be preserved, rather than priced out the market.
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Rory Maguire is chief executive of Fundhouse
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