A 32-minute watch.

Bella Caridade-Ferreira is the chief exec of Fundscape, a specialist in the research and analysis of the UK Funds industry. In a wide-ranging interview with Andy Brown, she discusses the health of the industry, market disruption, the dreaded ‘Brexit’ topic, and the scope of Fundscape’s ‘Gatekeeper report’.

She starts by admitting the industry has faced better years, with ‘net flows down to £6bn, which is worse than RDR territory 6 years ago’. She cites causation as the ‘kicker from DB transfers being over, and uncertainty around Brexit’.

In the event of no deal ‘Brexit’, Bella predicts ‘no one is going to take risk in volatile markets’, adding: ‘it could take 2, 3, 4 years to recover’.

So what will advisers do in uncertain and volatile markets? Bella discusses two lines of investment products they might go for.

She also refers to vertical integration in the industry, and how the market is going ‘back to the future’ as platforms face disruption, potentially creating less favourable user outcomes.

Also this week, we have quick-fire 3 Questions here from Phil Bray on helping advisers, as well as Bella’s earlier 3 Questions here on why ‘platforms are in trouble until 2021’.