In today’s fast-paced financial landscape, staying informed is key. From regulatory changes to market shifts, staying in the loop can make all the difference. That’s why industry giants Fidelity and Abrdn have teamed up to launch the Platforms Association, a new trade association aiming to guide the £800bn investment platform industry through evolving regulatory landscapes and government reforms.
Here’s what you need to know about this groundbreaking initiative:
- Diverse Representation: The Platforms Association seeks to represent a wide range of investment sites, from those offering tax-free ISAs and personal pensions directly to individuals, to companies working closely with financial advisers.
- Industry Veterans at the Helm: Leading the charge is Keith Phillips, a seasoned executive with extensive experience in various industry bodies. David Moffat, a senior director at SS&C, will chair the board, bringing a fresh perspective to the table.
- Navigating Regulatory Scrutiny: With regulatory scrutiny on the rise, the association aims to address critical issues such as platform charges and customer communication. By providing a unified industry voice, the association can better engage with regulators and decision-makers.
- Industry Challenges and Opportunities: As economic pressures mount and consumer confidence wavers, the investment platform industry faces unique challenges. However, with the government exploring reforms in the ISA market, there are also opportunities on the horizon.
In conclusion, the Platforms Association stands as a beacon of collaboration and progress in the investment platform industry. By fostering dialogue, addressing key issues, and seizing opportunities, this association is poised to lead the industry into a new era of growth and stability. Stay informed, stay engaged, and be part of this transformative journey.
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