View more on these topics

Advisers use just a third of platform functions

Advisers are using less than a third of available platform functionality, according to Zurich intermediary sales director Richard Howells.

He believes most of the bells and whistles available on current platforms are too complicated and are not wanted or needed by most IFAs.
Howells says Zurich’s platform, due to launch at the end of this year, will offer a simpler solution.

He says: “A lot of platforms are like television controls at the moment. They have 40 buttons but how many of those do people actually use?

Probably 25 to 30 per cent. Zurich’s platform is about making things simple. In general, bits of IT do not get used to anywhere near full capacity and in that case it is wastage.”

Howells says a significant cost has been spent developing tools that advisers are not interested in using.

Zurich was gathering IFA perspectives on its platform as part of its 2011 IFA Advisory Panel.

Threesixty commercial director Phil Young says: “It is probably less than 30 per cent of the functionality used regularly. A lot of content on platforms are seldom used because of practical issues.

“For example, there may be an attitude-to-risk tool on a platform but the attitude to risk should be assessed before assets are put on platform.”
Investment Quorum chief executive Lee Robertson says: “One IFA’s useless tool could be gold to another but a lot of platforms add bells and whistles in an attempt to cover up things they are not doing well.”


Intelliflo integrates IO with Ascentric

Software provider Intelliflo has integrated its front, middle and back-office solution Intelligent Office with platform provider Ascentric. Intelliflo says the integration will allow users to get electronic valuations for clients, which can then be used as part of a portfolio report and in financial planning sessions. The service needs additional password and usernames from Ascentric […]

Four major lenders will not lend to Castle Trust borrowers

Four major lenders say they would not lend to borrowers who take out Castle Trust’s new partnership mortgage. Castle Trust is offering 20 per cent of a property’s value, without any monthly repayments, to customers who already have a 20 per cent deposit. It is designed to cut the borrower’s repaymentswith their primary lender by […]

Castle Trust appoints Martyn Guerin as chief operating officer

Castle Trust has appointed Martyn Guerin as its new chief operating officer. Guerin, who will head up the firm’s mortgage team, joins from Barclays where he was general manager for the credit card and loans business in Germany and Barclaycard’s chief operating officer for Emea. He says: “Castle Trust has been created to help with […]


PRA will have limited power over insurers passporting into UK

The FSA is working with regulator’s across to Europe to try and ensure a level playing field for insurance firms based in the UK and those passporting in. Around one third of insurers operating in the UK passport in from the European Economic Area and the Prudential Regulation Authority has warned it will have little […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm