View the article online at http://citywire.co.uk/wealth-manager/article/a735020
IMA responds to FCA research fee crackdown with eight-point plan
by Eleanor Lawrie on Feb 18, 2014 at 13:54
'There are clearly challenges and conflicts inherent in the current business model and the IMA is open to radical change,' Daniel Godfrey (pictured), chief executive of the Investment Management Association said of the current dealing commission model.
'But there are also advantages and we should make sure that we are not inadvertently losing something valuable by changing the model without a thorough assessment of all the factors.'
At the end of last year the FCA proposed banning fees paid to brokers by investment managers, an industry worth some £5.2 trillion.
'We need to be confident that managers are putting their clients' value for money, good returns, and transparency at the heart of how they do business,' FCA chief executive Martin Wheatley said in a statement at the time.
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