Guide to platforms

  • Describe how to do your due diligence on your platform
  • List the elements you should look for when selecting the right platform
  • Describe the reasons for replatforming
Guide to platforms


Platforms have become an integral part of many an adviser's working life, and the industry is well-etablished.

There are now plenty of platforms, and many are so well-established that they are being forced to go through a massive replatforming exercise.

This has been far from an easy process, with the scale of client assets and the re-engineering of technical foundations meaning that such an undertaking is a time-consuming exercise.

The fact that so many advisers have come to rely on these platforms so fundamentally means that for most adviser businesses replatforming has been an arduous process.

Nonetheless, companies running technology-based services need to keep on top of the infrastructure, so the replatforming is a necessary exercise.

There are numerous checks one needs to do when selecting a platform: how much will it cost? what functionality does the platform offer? what does the client need?

Ultimately, platforms have become central to many an adviser's life, so it is important to remain informed.

This guide is worth an indicative 60 minutes of CPD.

Contributors to this article include: Verona Kenny, head of intermediary at 7IM; Barry Neilson, chief customer officer at Nucleus; Ben Hammond, principal consultant at Altus; Steve Neilson, consulting director at the Lang Cat; Andrew Ashwood, senior analyst at Platforum; Christopher Woolard, executive director of strategy and competition at the FCA; Bella Caridade-Ferreira, founder of

Jenny Turton is a freelance journalist

In this guide


Please answer the six multiple choice questions below in order to bank your CPD. Multiple attempts are available until all questions are correctly answered.

  1. What is the name of the regulatory process that is the backdrop for making sure your due diligence has been done on your chosen platform?

  2. Advisers desperately want and need all the 'bells and whistles' offered by all the platforms. True or false?

  3. How will advisers best prepare for the Prod rules?

  4. How often should advisers be performing their due diligence on their platforms?

  5. Advisers should always use the cheapest platform available. True or false?

  6. What is a major factor that could lead to more replatforming?

Nearly There…

You have successfully answered all the questions correctly, well done!

You should now know…

  • Describe how to do your due diligence on your platform
  • List the elements you should look for when selecting the right platform
  • Describe the reasons for replatforming

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