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‘Platform help for RDR is marketing effort’

Advisers should be wary of platforms offering business transition services, according to round table panellists.

Evolve Financial Planning partner Jason Witcombe said: “I do not think it is a platform’s role or responsibility to help businesses make that transformation. All we want is platforms that work and are efficient and transparent. Transformation departments at platforms are a marketing effort but there is no obligation to help advisers transition.”

The Lang Cat principal Mark Polson said platforms may not offer the best solution to advisers as they will be trying to ensure their own businesses are ready for VAT changes.

He said: “Platforms might have to split their focus because they will have to get their most skilled people making sure the platform is ready for the VAT transition when they would probably prefer to be helping advisers.”


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