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Skandia to add due diligence facility to Platformwatch

Skandia is enhancing its Platformwatch tool to enable advisers to carry out their own due diligence report on individual platforms.

Platformwatch, renamed yesterday from Pricewatch, currently compares six platform models, prices and charges.

But Skandia proposition marketing manager Jeremy Mugridge says the firm will add a suite of questions advisers should be asking platforms in order to build there own due diligence report in Q1 2010.

Mugridge says: “The FSA has told advisers that they need to do due diligence on platforms and it has given them a number of areas they need to look at. We have developed a number of questions advisers should be asking platforms and we will allow them to choose which questions they want to ask, and then build their own due diligence report.

“We know there is a demand for this out there because advisers are a little bit lost in terms of what they need to do when it comes to due diligence. It is in our interests to help advisers because we want them to make the right choice.”

Mugridge says Skandia will do “a month or two” of user testing before rolling out the functionality in full.

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