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Semi-liquid funds pose Consumer Duty challenges for wealth managers as barriers to entry subside
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At Investment Week's inaugural Private Markets Summit last week, Alpha FMC director Adam Croutear and Lionpoint Group senior manager Louis de Watteville said semi-liquid funds could intensify existing regulatory pressures on wealth management firms. Under the Financial Conduct Authority's Consumer Duty, wealth managers must demonstrate that the products and services they offer to retail customers provide fair value, and act to deliver good outcomes for clients. Semi-liquid fund structures, such as the UK's LTAF or the EU's ELTIF 2.0, have broadened wealth manager access to private as...
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