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Aifa starts work on platform guide

The Association of Independent Financial Advisers has started work on a due diligence guide to help advisers pick a platform.

The guide aims to outline the due diligence dangers of picking a wrap or platform and encourage advisers to question the strength of any particular provider.

Aviva Wrap head of marketing Nic Burton supports the move by Aifa. He says: “I am sure that it will be a welcome input to a very important decision for many IFA practices in the run-up to the implementation of the retail distribution review.”

Burton says factors advisers should consider include readiness for RDR in terms of adviser charging and transparency of rebates, financial strength of the provider and meeting needs of consumers.

He adds: “An Aifa guide should seek to help advisers make sure that they have best practice governance processes on an ongoing basis.”       

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