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Ascentric urges more advisers to carry out due diligence on wrap provider

Ascentric is urging more advisers to carry out regular due diligence on the platforms they use to make sure they are fit for purpose.

Ascentric head of sales Shaun Sandiford says IFAs must understand the importance of due diligence to ensure platforms remain suitable for their client bank.

He says: “With all the pressures involved in running a business and keeping clients happy, IFAs have to devote more and more time ensuring that the appropriate governance is in place to justify any major decision they make. This includes their selection of a wrap platform provider.”

Sandiford says IFAs should be asking themselves three key questions regarding their chosen wrap platform, such as whether or not the firm’s investment philosophy changed in 2009, any gaps in its functionality and is it still suitable for them.

He says: “Why wait for regulatory sanctions when you can do something about it now? Spring clean your wrap operator, spring clean your preferred platform, and, if you feel it remains fit for purpose, fine, document why and carry on. If it’s not, investigate others, do your due diligence and make the move to an unbiased and unrestricted’ world.”


Latin America fund for First State

First State Investments is to launch a Latin America fund, targeting UK and European wholesale and institutional investors. It will be managed by Jonathan Asante and Millar Mathieson with Alan Nesbit as deputy fund manager.

Prudent shall ensure value

Last week, I focused on the importance and potentially strong commercial benefit in adopting a “provocation-based” approach to doing business with existing clients and to acquiring new clients – of the right type.


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