The Financial Conduct Authority (FCA) is to introduce rules that will make it easier for investors to switch to another investment platform. The regulator has been conducting an investigation into platforms, which include companies such as Hargreaves Lansdown, AJ Bell, Interactive Investor and Fidelity Personal Investing, and says that basic price competition is working well. But the regulator also says that because some platforms penalise investors for moving away from them, it is hampering competition and disincentivising platforms from providing the best service and value for money over the long term.
To continue reading, register today
to enjoy limited access to the following:
- Daily trading news
- Funds coverage
- Features on big investment themes
- Comprehensive companies coverage
- Economic analysis