Why the FCA's latest probe can help solve MPS 'information void'

When the Financial Conduct Authority announced its review into the managed portfolio service (MPS) market, the first thing that came to mind when analysing the downstream effects was the now infamous Spiderman meme where multiple versions of the same character stand and point at each other in an accusatory manner. To set the scene, MPS growth has been profound in the last decade and whilst discretionary managers have undoubtedly grasped the opportunity presented by new market dynamics, advisers and their customers have also benefitted from lower ongoing costs, greater transparency and hi...