View more on these topics

Platforms need to deliver to meet needs of advisers

Platforms must do more to respond to the needs of advisers to secure their long-term future, according to a report by Defaqto.

The report, Adviser Platforms in the UK 2008: Stand and Deliver, says many advisers are still in the process of testing out different platforms and are yet to commit to one in particular.

Defaqto says its research into the principals of wrap ownership shows there is a low level of support for life office and IFA co-operative wraps.

There is, however, strong backing for the concept of independent providers.

Only 6 per cent of advisers say a life office would be their preferred platform provider while 11 per cent opt for an investment firm, 4 per cent for a bank and 37 per cent for an independent provider.

Only 2 per cent say that they would prefer an IFA cooperative wrap.

Defaqto says platforms must target adviser networks and support groups which have yet to take a stance on platforms or commit to a preferred partner.

It says providers will need to highlight the positive experiences of those already enjoying the concept of platform technology.

Defaqto principal consultant for pensions and wealth management Matt Ward says: “It would appear from our research that many IFAs are still testing out platform solutions ahead of further commitment to one or two partners.

“It is vitally important for providers to ensure that IFA supporters are clear about the capability of the services and systems on offer.”

In its research, Defaqto looked at adviser business habits, opinion on industry issues and perception of service standards within the platform arena.

Ward says: “Everyone who is involved in the market, whether as an active or potential participant, will benefit from understanding more fully how the market is moving and how propositions are developing.”


Recruitment row over calls from headhunter

Affluent Financial Planning has hit out at Positive Solu-tions over recruitment tactics he claims were used to headhunt its staff.Owner Carl Melvin says a third-party recruitment company phoned his secretary earlier this month asking to speak to one of his IFAs on a “personal matter”.Melvin says the agent purported to know the adviser but revealed […]

A shaw thing

Sam Shaw is a reporter on Money MarketingThis week centred on the large eyebrowed one that is Alistair Darling and his big red book. Our newsroom, as is always the case on Budget Day, was peppered with some rather guru-like financial services whizzes, ensuring the newsdesk’s swearing quota was somewhat more limited than usual. Well, […]

EIS plus into the power of music

The Power Amp Music EIS fund is an enterprise investment scheme fund aiming to raise £10m to develop, produce and promote a portfolio of 20-30 music artists.

Buoyant Savills widening reach

Savills Private Finance has seen profits jump by 16 per cent from £4.4m in 2006 to £5.1m last year.The broker says revenue rose by 11 per cent from £26.9m to £29.8m as it benefited from a strong mortgage market. Margins improved slightly from 16 per cent to 17 per cent.SPF managing director Mark Harris says: […]


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