threesixty has produced a new guide to wraps to help IFAs assess which platforms to choose.
The guide is broken down into sections dealing with how wraps can benefit intermediarie, how wraps can benefit clients, common pitfalls to avoid when using wraps, how to position wrap with your clients, including questions around independence and the questions IFAs should ask when selecting platforms for their businesses.
threesixty says one of the most important stages in choosing a platform is to align it with the service levels they wish to deliver and then align each client to a service level.
threesixty services partner Phil Young says: “The IFA community has really taken to the concept of wrap, having already used fund platforms for some time. However, establishing which wrap platform to use can be a difficult process and it is unlikely that an IFA would achieve real efficiencies by using too many platforms.
“By taking care to assess the service that a platform offers, and not just the tax wrappers or funds available, IFAs can ensure that they make an informed choice, which will benefit both them and their clients in the long-term. This is why we decided to produce a guide that would simplify the process and help IFAs make sure that they had the best service to meet their individual needs.”