Some wealth managers are unclear and inconsistent in their communication with clients regarding in-house fund ranges, an FCA review has found.
The Financial Conduct Authority has concluded its review into conflicts of interest arising from in-house products (IHPs) launched by wealth management firms, which it began earlier in the year. The probe has been a significant hindrance for some firms looking to launch in-house products, with a number of wealth managers abandoning these plans. The review concentrated on a sample of 18 wealth management and private banking firms managing a total of £146bn in retail assets, which invested around 20% in products managed by a party connected to the firm. Though the review found the gr...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
