£500bn investing probe

CITY regulators have launched a probe into whether the £500bn online investment market is giving savers value for money.

The Financial Conduct Authority will look at the operations of investment platforms and fund supermarkets such as Hargreaves Lansdown, nutmeg and Interactive Investor. These platforms are increasingly used by savers and financial advisers with the amount of money invested through them jumping from £108bn in 2008 to £500bn in 2016.

The FCA will assess whether the industry is giving customers a good deal.

It will explore whether they ‘help investors make good investment decisions’.