View more on these topics

Whitechurch and In-Partnership toughen platform due dilgence

Whitechurch and In-Partnership are requiring new members to carry out platform due diligence on every client as part of efforts to de-risk the networks’ business.

The networks are rolling out a suite of products called Pegasus to members which includes the use of Capita’s synaptic comparator platform comparison tool. Whitechurch and In-Partnership are recommending advisers use the tool every time they want to move a client’s assets onto a platform. It will be mandatory for new members to do this.

The comparator tool will highlight the platforms on the networks’ preferred panel, which are Ascentric, Axa Elevate, Cofunds, Fidelity FundsNetwork, Seven Investment Management, Skandia, Standard Life and Transact.

Whitechurch managing director Ian McIver says: “This helps us to de-risk the business. Our view is the likes of Honister and other networks and nationals have hit problems because they did not have a central way of controlling the due diligence.”

Plan Money director Peter Chadborn says: “It seems like overkill. It is impractical to do it for every client and while it is a good tool, reliance on one tool is very dangerous.”


Chris Gilchrist: Beware dancing to yesterday’s tune

J M Keynes believed that ‘animal spirits’ held the key to business cycles. Neoclassical economists rubbished such archaic thinking and said there were no business cycles, simply random fluctuations around the equilibrium that is the economy’s natural aiming point – a notion that recent experience has consigned to the rubbish bin. There is no way […]

Standard Life to launch flexible drawdown proposition

Standard Life will unveil its flexible drawdown proposition later this month, over a year after the Government introduced the regime as part of reforms to abolish compulsory annuitisation at age 75. Standard Life has contacted advisers outlining plans to launch a standalone flexible drawdown product on 29 October. The Flexible Income Drawdown plan, or FID, […]


Aifa warns FSCS threshold hike will wipe out 40% of adviser profits

The FSA’s plan to hike the annual Financial Services Compensation Scheme levy threshold for investment advisers will wipe out 40 per cent of firms’ profits, according to Aifa. The FSA published an FSCS funding consultation in July which outlined plans to hike the claims threshold from £100m to £150m. The threshold represents the maximum that […]


PRA will have power to force business model changes

The Prudential Regulation Authority will have the to power to force banks and building societies to change their business model if it is not satisfied that risks can be adequately managed or mitigated. Under the new regulatory structure, the PRA, which is expected to launch in April, will require providers to submit projections of their […]


News and expert analysis straight to your inbox

Sign up


There is one comment at the moment, we would love to hear your opinion too.

  1. Natalie, as we discussed, one of the main benefits of doing individual client projections in Comparator, in addition to ensuring the client gets the best deal, & the advice is compliant, is to ensure the cash value of any Adviser Charges calculated from a % of FUM are optimised. Our experience shows advisers often give up £x,000 of future earnings without being aware of it. If an adviser has 250 clients, this can easily be £500k! In LAUTRO days would any adviser recommend a product paying 100% of LAUTRO where the client was £50k worse off, vs a product paying 140% LAUTRO where the client was better off? So why do so post RDR whether on or off platform?

    As a full portfolio projection (Cash a/c, ISA, SIPP, Bond, etc) across platforms & off-platform products takes only 2-3 mins per client, advisers will save considerable time vs the separate pension comparisons on portals etc they used to do. In addition, all projections will be on the same basis, which isn;t the case on portals.

    Firms using Comparator on a regular basis have also been offered PI insurance savings that cover their subscriptions!

    What’s not to like? Will

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