Speaking at the Threesixty conference in London last week, Adnitor chief operating officer David Reed said advisers are becoming more aware that adopting one or two platforms is a more compelling argument than being spread across multiple platforms. He said: “Some IFAs are looking to migrate bits from multiple platforms onto one proposition.”
Reed believes there is plenty of room for growth in the UK platform space, with Adnitor forecasting that by 2011 there will be 250bn of assets on platforms.
Reed said that platform providers are increasingly adding “different flavours of tax wrappers” and new asset types.
He added that back-office integration has become increasingly sophisticated and data input can flow straight through to platforms.