The Competition and Markets Authority (CMA) published its provisional decision on its investment consultant market investigation this morning. Here is the reaction from consultants and fiduciaries…
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.
The industry has welcomed the Competition and Markets Authority's (CMA's) working paper on the information available to trustees on the fees and quality of investment consultants and fiduciary managers.
Industry believes the CMA investigation into the investment consultant market has had no noticeable impact on their business activity.