Platform market may begin to diverge

This article is part of
Platforms - October 2014

We believe as much as £100bn of assets will move fund and/or platform in the next 18 months. There will be clear winners and losers.

David Tiller is head of adviser platforms at Standard Life

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Bill Vasilieff, chief executive at Novia, says:

“There are between 15 and 20 platforms competing for business from advisers compared to more than 100 fund managers and in the past many more life companies. The market is not overcrowded and there is still a lot of business to be migrated onto platforms. There are no indications whatsoever of consolidation and indeed we can expect to see some new entrants in the not-too-distant future.

“Some of the big institutions try to scare advisers by saying the smaller platforms will disappear but this is nonsense. The institutions have been saying for 15 years now that there are too many platforms even when there were only a handful, so obviously they were utterly wrong.”