Platforms  

Regulators finally act over replatforming chaos

An adviser, who does not want to be named for fear of prejudicing his ongoing dealings with the insurer, said: "They are failing is so many places, it seems whenever they are putting out fires they are just igniting fires elsewhere.

"At some point the regulator should come out and say this is enough, we are [stepping in]."

Scott Gallacher, Chartered financial planner at Rowley Turton Private Wealth Management, questioned whether Aviva had an obligation to refer themselves to the FCA given the continued issues.

He said: "The FCA's role includes protecting consumers, keeping the industry stable, and promoting healthy competition between financial service providers."

damian.fantato@ft.com