The Financial Conduct Authority (FCA) will look at vertically integrated advice firms as part of a review of the platform market later this year.
Earlier today the regulator published its final findings on the asset management sector. It said many of those who responded to its interim findings highlighted concerns about businesses where one company owned advice, fund management and platforms.
Some of the responses highlighted perceived 'conflicts of interest' in these businesses when it comes to recommending investments.
At a press conference following the publication of the final report, FCA director of competition Mary Starks said some of these concerns will be addressed in a study of the platform market later this year.
'We'll launch the work on platforms properly in due course, and at that point we will set out the scope of that work very clearly, but certainly vertical integration and the relationships between different parts of the value chain will be something that we will be looking at,' she said.
The regulator announced plans to look at the platform market in its business plan published earlier this year.
In the report the FCA said it would specifically look at issues of competition between platforms, and whether clients always receive the best deal.