The FCA report in a nutshell

It won’t have escaped your notice, especially if you’re in the UK, that the Financial Conduct Authority has just published a very important document.

The regulator’s long-awaited report on the asset management industry was more hard-hitting than most people had expected, concluding as it did that there’s a lack of competition, that charges are often too high, and that investors are not being given a clear picture of how much they are paying to invest.

We’re going to be exploring on this blog in due course what the report specifically means for financial advice and wealth management firms. But first, here’s a general overview of what the report says and what it means from our sister blog, The Evidence-Based Investor: The lowdown on the FCA report on asset management