There was a huge amount of speculation about just how far-reaching the FCA market study into consolidators would be.
It is a very interesting report which, in your reviewer’s view, is mostlyinterestedin the sustainability of consolidator’s business models and, to a degree, how that impacts clients.
It is reported in Professional Adviser in this way - “The FCA has cautioned that consolidation within the financial advice and wealth management sector could lead to “poor outcomes” for clients, employees, and the wider system if not managed effectively.”
Citywire New Model Adviser reports that the FCA has told consolidators to tighten their incentives rules and stress test debt agreements following a review of deals in the advice and wealth management spaces.
It notes that in some instances, incentives were being offered in return for investments, either through adviser remuneration or via the deal structure, which were seen as conflicts of interest.
(It is a very interesting approach but some commentators (me) have questioned whether it is sufficiently client centric. My view on Octo Members is here - A market study into consolidators is of great importance, but is there enough focus on clients?
In other news, people in the UK reclaimed £48.5mn in over taxation on pension withdrawals between July and September 2025 as AJ Bell's analysis of HMRC figures suggests. FTAdviser reports.
The FCA has warned that retail investors buying Contracts for Difference (CFDs) could be putting themselves at risk by giving up crucial consumer protections, with finfluencers pushing the product without explaining the full consequences. Not surprising news. Professional Adviser reports.
Opinion is split among the public as to whether people should be able to use pension funds to help them get onto the housing ladder, with scepticism this would create further problems around retirement adequacy.
Research by Nest Insight found that 38 per cent of those surveyed thought it was a “very” or “fairly good idea” while 33 per cent said it was not.
Crucially, this is a survey of the public and includes lots of renters. Corporate Adviser reports.
