FCA to investigate investment consultancy sector

Trustees Agenda posted on 14 September, 2017

The FCA has confirmed its decision to make a reference to the Competition and Markets Authority (CMA) regarding the investment consultancy and fiduciary management sector.

Christopher Woolard, Executive Director of Strategy and Competition at the FCA, said "It is a significant step for us to make this recommendation. We have serious concerns about this market and believe the CMA is best placed to undertake this work. Investment consultancy services play a significant role advising pension fund trustees when they are procuring asset management services. It is important that trustees can be confident they are getting good quality advice and value for money from their investment consultants."