FCA consults on changes to make platform switching easier

The Investment Platforms Market Study started in 2017 to explore whether investors can make informed decisions about the choice of platform, the investments they choose and whether platforms firms compete to add value. An interim report was published in August 2018 and the FCA has now published its final report setting out its final findings and the actions it intends to take as result.

Although the platforms markets works well in many respects, the FCA believes that it should be easier for investors and their financial advisers to shop around and more easily switch to another platform where it would better meet their needs to do so. Switching between platforms can be difficult because of the time, complexity of the process and the costs.

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