The Financial Conduct Authority (FCA) has written to platform bosses about its concern over fees not being properly disclosed.
Director of consumer investments Lucy Castledine wrote a Dear CEO letter to investment platform bosses on Friday (28 September) laying out the regulator's concerns about "key harms". She said the watchdog is concerned that "platform fees are not properly disclosed, making it difficult for customers to have a clear understanding of what they are being charged". The FCA said that fees and charges may not represent fair value, especially when looking at customers with different size investment pots and taking into regard platforms' role in the distribution chain. Castledine also highl...
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