The CEO of fund management group Jupiter has said the significant disruption facing platform business models in the run-up to implementation of the Retail Distribution Review (RDR) will lead to consolidation in the space.
Speaking to Investment Week, Edward Bonham Carter said that, while increased pricing pressure on asset managers could not be discounted, the main impact of platform fee transparency would fall on the distributors themselves.
Bonham Carter said the appointment of BlackRock’s Maarten Slenderbroek as distribution and strategy director shows Jupiter is “raising its game” in terms of its own distribution plans, but said much remained unknown for the industry.
“But it is still early days in terms of how the market is going to settle down as a result of RDR,” he said.
Source: IFAonline. Read full article here.