In the space of 15 years, the number of investment platforms in the UK has increased from zero to more than 30.
Due diligence can be a time consuming process and depends on the suitability for individual clients, which can cause conflict when faced with which platform provides the most efficiencies to a business.
Clearly the technology that underpins a platform is one of the fundamental elements of the overall proposition. Other key considerations include the scale, robustness, service and the products an adviser is looking for to meet client needs.
This guide will explain how to make sure the platforms you choose are fit for purpose today and tomorrow, getting the right fit for your clients, as well as spelling out what the Financial Conduct Authority expects from you in relation to due diligence.
Pricing is also a key consideration for platforms, and this will be considered as part of a full guide next month exploring changes to models ahead of the regulator’s rebate ‘sunset clause’ next year.
Contributors to this guide are: Stephen Wynne-Jones, head of marketing at Cofunds; Chris Smeaton, director of marketing at James Hay; Michael Barrett, investment platform expert at Old Mutual Wealth; Barry Neilson, business development director at Nucleus; Paul Boston, sales director of Novia; and Alistair Wilson, head of retail platform strategy at Zurich.