The Consumer Duty requirements have not changed the industry’s views either way on using a model portfolio service (MPS), a Professional Adviser poll has shown.
In last week's PA Asks, we asked the industry if the Consumer Duty requirements changed its views either way on using an MPS. The results revealed that 69.9% said no, 15.4% said yes, and 15.4% said they did not know. "We run an MPS, but the 'producer' obligations are also oppressive," said one pundit. Another shared that their firm had already made the decision to move away from manufacturing its own models a couple of years ago before the advent of Consumer Duty. Another respondent said that Consumer Duty did change their views on MPS initially, but not now. One reader said: "M...
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